MAAT INDEX

CLAIM #43606 · Merck & Company Inc (MRK) · 2025Q3 earnings call · Oct 30, 2025 · due Dec 31, 2026

And we do expect continued growth in KEYTRUDA, albeit at a slightly slower pace than we've seen as we are getting to peak penetration in some of the indications, and we do expect some headwind from price in our ex-U.S. markets.

Caroline Litchfield · CFO

PENDING
graded after results covering Dec 31, 2026 are reported

How to check this claim

Look at: KEYTRUDA annual revenue growth rate, fiscal year 2026 vs fiscal year 2025

It came true if: KEYTRUDA FY2026 revenue growth > 0% but lower than FY2025's reported growth rate

Where: Merck quarterly/annual income statement and segment disclosures (10-K / earnings release)

In context

So as we go into 2026, we are expecting solid top line growth for our company, and that growth will increasingly be fueled by the number of new launches that we have. So we're expecting continued patient impact and revenue growth from WINREVAIR. OHTUVAYRE now is also part of the Merck portfolio. We have CAPVAXIVE, which is off to a very strong start, and ENFLONSIA. And on top of that, we have our Animal Health business, where growth will also be driven by new launches, including BRAVECTO QUANTUM, the 12-month injection, as well as NUMELVI, our new dermatology product. We also have the expectation of continued growth in oncology. To the last question, WELIREG, has strong growth with greater potential ahead of it as we get into other successful studies and treat a broader range of patients. And we do expect continued growth in KEYTRUDA, albeit at a slightly slower pace than we've seen as we are getting to peak penetration in some of the indications, and we do expect some headwind from price in our ex-U.S. markets. The other headwinds that we will face will be related to loss of exclusivity and generic entrants. And that really is DIFICID that's seen generic entrant halfway through 2025 in the U.S., BRIDION, which will have its LOE partway through 2026. And we also expect the headwind of IRA price setting on the JANUVIA family and the generic entrant for JANUVIA midway through next year. But overall, confident in our ability to continue to positively impact patients and drive solid growth. Operator: Our next question comes from Umer Raffat with Evercore. Umer Raffat: I was wondering if I should ask about Organon situation, but I realize it's multiple years removed, stand-alone company. So maybe there's not a whole lot you could say anyways. So let me focus instead on CADENCE trial instead. And Dean,

Verify independently

SEC filings for MRK · Claim quote is verbatim from the 2025Q3 earnings call.