MAAT INDEX

CLAIM #43634 · Merck & Company Inc (MRK) · 2025Q4 earnings call · Feb 3, 2026 · due Dec 31, 2028

For planning purposes, we continue to assume 2028 because I think that is a conservative assumption.

Rob Davis · CEO

PENDING
graded after results covering Dec 31, 2028 are reported

How to check this claim

Look at: Loss of exclusivity / patent expiration date used in company planning assumptions for the relevant compound (as disclosed by management)

It came true if: Company continues to publicly state 2028 (not 2029) as its planning assumption for patent expiration through year-end 2028

Where: Company management commentary (earnings calls, investor presentations, 10-K risk factors) through 2028

In context

e, there were actually four patents that made up the patent estate that was the original innovation. One of those is the compound patent, which expires December 2028. Two of those, one in method of making patent, actually is extended out to May 2029, and the second one, a method of use patent goes out to November 2029. And so as we looked at this, initially, we were conservative in our assumptions and always based off the compound patent, always, though, with the intent that we would defend the entire patent estate. I think what has evolved over time is that this case law has emerged. Our confidence that we will be able to defend those additional two patents has grown. And thus, there is a potential that you are going to see protection actually make it through either May or November 2029. For planning purposes, we continue to assume 2028 because I think that is a conservative assumption. We will have to see where it goes. And I would also remind you that we do face the IRA as of the beginning of 2029. As we think about the QLEX adoption, we continue to think we are going to see 30% to 40% adopted as you get out to 2028, and we will drive that as high as we can. And as you know, we have priced this to drive for the adoption from KEYTRUDA IV to QLX. So that will continue. That strategy is underway. And frankly, whether it is '28 or '29 does not change the strategy we are following. Peter Dannenbaum: Great. Thanks, Alexandria. Next question, please. Operator: Thank you. Our next question comes from Evan Seigerman with BMO Capital Markets. You may ask your question. Evan Seigerman: Hi, guys. Thank you so much for taking my question. I want to touch on the HIV data that you we

Verify independently

SEC filings for MRK · Claim quote is verbatim from the 2025Q4 earnings call.