XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.25.1

Segment Reporting (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Sales from Products | Sales of the Company’s products were as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
($ in millions) | U.S. |  | Int’l |  | Total |  | U.S. |  | Int’l |  | Total |  |  |  |  |  |  |  |  |  |  |  |
Pharmaceutical: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oncology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Keytruda | $ | 4,308 |  |  | $ | 2,897 |  |  | $ | 7,205 |  |  | $ | 4,119 |  |  | $ | 2,828 |  |  | $ | 6,947 |  |  |  |  |  |  |  |  |  |  |  |  |
Alliance revenue-Lynparza (1) | 145 |  |  | 168 |  |  | 312 |  |  | 135 |  |  | 157 |  |  | 292 |  |  |  |  |  |  |  |  |  |  |  |  |
Alliance revenue-Lenvima (1) | 186 |  |  | 72 |  |  | 258 |  |  | 173 |  |  | 82 |  |  | 255 |  |  |  |  |  |  |  |  |  |  |  |  |
Welireg | 123 |  |  | 15 |  |  | 137 |  |  | 77 |  |  | 7 |  |  | 85 |  |  |  |  |  |  |  |  |  |  |  |  |
Alliance revenue-Reblozyl (2) | 101 |  |  | 18 |  |  | 119 |  |  | 58 |  |  | 12 |  |  | 71 |  |  |  |  |  |  |  |  |  |  |  |  |
Vaccines |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gardasil/Gardasil 9 | 536 |  |  | 790 |  |  | 1,327 |  |  | 488 |  |  | 1,761 |  |  | 2,249 |  |  |  |  |  |  |  |  |  |  |  |  |
ProQuad/M-M-R II/Varivax | 423 |  |  | 116 |  |  | 539 |  |  | 438 |  |  | 133 |  |  | 570 |  |  |  |  |  |  |  |  |  |  |  |  |
Vaxneuvance | 139 |  |  | 92 |  |  | 230 |  |  | 161 |  |  | 58 |  |  | 219 |  |  |  |  |  |  |  |  |  |  |  |  |
RotaTeq | 164 |  |  | 64 |  |  | 228 |  |  | 149 |  |  | 67 |  |  | 216 |  |  |  |  |  |  |  |  |  |  |  |  |
Capvaxive | 106 |  |  | 1 |  |  | 107 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Pneumovax 23 | (2) |  |  | 42 |  |  | 41 |  |  | 6 |  |  | 55 |  |  | 61 |  |  |  |  |  |  |  |  |  |  |  |  |
Hospital Acute Care |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bridion | 378 |  |  | 63 |  |  | 441 |  |  | 329 |  |  | 111 |  |  | 440 |  |  |  |  |  |  |  |  |  |  |  |  |
Prevymis | 102 |  |  | 106 |  |  | 208 |  |  | 74 |  |  | 100 |  |  | 174 |  |  |  |  |  |  |  |  |  |  |  |  |
Dificid | 72 |  |  | 11 |  |  | 83 |  |  | 68 |  |  | 5 |  |  | 73 |  |  |  |  |  |  |  |  |  |  |  |  |
Zerbaxa | 42 |  |  | 28 |  |  | 70 |  |  | 33 |  |  | 23 |  |  | 56 |  |  |  |  |  |  |  |  |  |  |  |  |
Cardiovascular |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Winrevair | 268 |  |  | 12 |  |  | 280 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Alliance revenue-Adempas/Verquvo (3) | 97 |  |  | 9 |  |  | 106 |  |  | 90 |  |  | 8 |  |  | 98 |  |  |  |  |  |  |  |  |  |  |  |  |
Adempas | — |  |  | 68 |  |  | 68 |  |  | — |  |  | 70 |  |  | 70 |  |  |  |  |  |  |  |  |  |  |  |  |
Virology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lagevrio | 35 |  |  | 67 |  |  | 102 |  |  | 45 |  |  | 305 |  |  | 350 |  |  |  |  |  |  |  |  |  |  |  |  |
Isentress/Isentress HD | 51 |  |  | 39 |  |  | 90 |  |  | 50 |  |  | 61 |  |  | 111 |  |  |  |  |  |  |  |  |  |  |  |  |
Delstrigo | 15 |  |  | 52 |  |  | 67 |  |  | 12 |  |  | 44 |  |  | 56 |  |  |  |  |  |  |  |  |  |  |  |  |
Pifeltro | 32 |  |  | 13 |  |  | 45 |  |  | 29 |  |  | 13 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |
Neuroscience |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Belsomra | 13 |  |  | 37 |  |  | 50 |  |  | 15 |  |  | 32 |  |  | 46 |  |  |  |  |  |  |  |  |  |  |  |  |
Immunology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Simponi | — |  |  | — |  |  | — |  |  | — |  |  | 184 |  |  | 184 |  |  |  |  |  |  |  |  |  |  |  |  |
Remicade | — |  |  | — |  |  | — |  |  | — |  |  | 39 |  |  | 39 |  |  |  |  |  |  |  |  |  |  |  |  |
Diabetes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Januvia | 344 |  |  | 204 |  |  | 549 |  |  | 183 |  |  | 236 |  |  | 419 |  |  |  |  |  |  |  |  |  |  |  |  |
Janumet | 65 |  |  | 182 |  |  | 247 |  |  | 39 |  |  | 212 |  |  | 251 |  |  |  |  |  |  |  |  |  |  |  |  |
Other pharmaceutical (4) | 184 |  |  | 545 |  |  | 729 |  |  | 165 |  |  | 467 |  |  | 632 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Pharmaceutical segment sales | 7,927 |  |  | 5,711 |  |  | 13,638 |  |  | 6,936 |  |  | 7,070 |  |  | 14,006 |  |  |  |  |  |  |  |  |  |  |  |  |
Animal Health: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Livestock | 194 |  |  | 730 |  |  | 924 |  |  | 166 |  |  | 683 |  |  | 850 |  |  |  |  |  |  |  |  |  |  |  |  |
Companion Animal | 308 |  |  | 356 |  |  | 664 |  |  | 308 |  |  | 354 |  |  | 661 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Animal Health segment sales | 502 |  |  | 1,086 |  |  | 1,588 |  |  | 474 |  |  | 1,037 |  |  | 1,511 |  |  |  |  |  |  |  |  |  |  |  |  |
Total segment sales | 8,429 |  |  | 6,797 |  |  | 15,226 |  |  | 7,410 |  |  | 8,107 |  |  | 15,517 |  |  |  |  |  |  |  |  |  |  |  |  |
Other (5) | 93 |  |  | 210 |  |  | 303 |  |  | 68 |  |  | 190 |  |  | 258 |  |  |  |  |  |  |  |  |  |  |  |  |
| $ | 8,522 |  |  | $ | 7,007 |  |  | $ | 15,529 |  |  | $ | 7,478 |  |  | $ | 8,297 |  |  | $ | 15,775 |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. plus international may not equal total due to rounding. (1) Alliance revenue for Lynparza and Lenvima represents Merck’s share of profits, which are product sales net of cost of sales and commercialization costs (see Note 3). (2) Alliance revenue for Reblozyl represents royalties (see Note 3). (3) Alliance revenue for Adempas/Verquvo represents Merck’s share of profits from sales in Bayer’s marketing territories, which are product sales net of cost of sales and commercialization costs (see Note 3). (4) Other pharmaceutical primarily reflects sales of other human health pharmaceutical products, including products within the franchises not listed separately. (5) Other is primarily comprised of miscellaneous corporate revenue, including revenue hedging activities which increased sales by $58 million and $54 million for the three months ended March 31, 2025 and 2024, respectively, as well as revenue from third-party manufacturing arrangements (including sales to Organon & Co.). Other for the three months ended March 31, 2025 and 2024 also includes $95 million and $61 million, respectively, related to upfront and milestone payments received by Merck for out-licensing arrangements.
Consolidated Sales by Geographic Area | Consolidated sales by geographic area where derived are as follows:
| Three Months Ended March 31, |  |
($ in millions) | 2025 |  | 2024 |  |  |  |
United States | $ | 8,522 |  |  | $ | 7,478 |  |  |  |  |
Europe, Middle East and Africa | 3,454 |  |  | 3,563 |  |  |  |  |
Latin America | 792 |  |  | 796 |  |  |  |  |
China | 702 |  |  | 1,772 |  |  |  |  |
Asia Pacific (other than China and Japan) | 689 |  |  | 724 |  |  |  |  |
Japan | 669 |  |  | 821 |  |  |  |  |
Other | 701 |  |  | 621 |  |  |  |  |
| $ | 15,529 |  |  | $ | 15,775 |  |  |  |  |
Reconciliation of Segment Profits to Income before Taxes | A reconciliation of segment profits to Income Before Taxes is as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
($ in millions) | Pharmaceutical |  | Animal Health |  | Total |  | Pharmaceutical |  | Animal Health |  | Total |  |  |  |  |  |  |  |  |  |  |  |
Segment sales | $ | 13,638 |  |  | $ | 1,588 |  |  | $ | 15,226 |  |  | $ | 14,006 |  |  | $ | 1,511 |  |  | $ | 15,517 |  |  |  |  |  |  |  |  |  |  |  |  |
Less segment costs: (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | 1,573 |  |  | 600 |  |  |  |  | 1,706 |  |  | 613 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative | 1,402 |  |  | 260 |  |  |  |  | 1,429 |  |  | 252 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development (2) | — |  |  | 95 |  |  |  |  | — |  |  | 90 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other segment items (3) | (49) |  |  | (1) |  |  |  |  | (33) |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total segment profits | 10,712 |  |  | 634 |  |  | 11,346 |  |  | 10,904 |  |  | 555 |  |  | 11,459 |  |  |  |  |  |  |  |  |  |  |  |  |
Other profits |  |  |  |  | 202 |  |  |  |  |  |  | 146 |  |  |  |  |  |  |  |  |  |  |  |  |
Unallocated: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  | 109 |  |  |  |  |  |  | 73 |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  | (313) |  |  |  |  |  |  | (303) |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  | (597) |  |  |  |  |  |  | (473) |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  |  |  | (441) |  |  |  |  |  |  | (452) |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  |  |  | (3,477) |  |  |  |  |  |  | (3,851) |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring costs |  |  |  |  | (69) |  |  |  |  |  |  | (123) |  |  |  |  |  |  |  |  |  |  |  |  |
Other unallocated, net |  |  |  |  | (857) |  |  |  |  |  |  | (806) |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | $ | 5,903 |  |  |  |  |  |  | $ | 5,670 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) The significant expense categories and amounts align with the segment level information that is regularly provided to the chief operating decision maker. (2) Human health-related research and development expenses incurred by Merck Research Laboratories are not allocated to segment profits as noted below. (3) Includes equity (income) loss from affiliates and other miscellaneous non-operating expenses.
Equity Loss from Affiliates and Depreciation Included in Segment Profits | Equity income from affiliates and depreciation included in segment profits is as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
($ in millions) | Pharmaceutical |  | Animal Health |  | Total |  | Pharmaceutical |  | Animal Health |  | Total |  |  |  |  |  |  |  |  |  |  |  |
Equity income from affiliates | $ | 58 |  |  | $ | — |  |  | $ | 58 |  |  | $ | 48 |  |  | $ | — |  |  | $ | 48 |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation | 1 |  |  | 60 |  |  | 61 |  |  | 1 |  |  | 58 |  |  | 59 |  |  |  |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment, Net by Geographic Area | Property, plant and equipment, net, by geographic area where located is as follows:
($ in millions) | March 31, 2025 |  | December 31, 2024
United States | $ | 14,891 |  |  | $ | 14,724 |
Europe, Middle East and Africa | 8,402 |  |  | 7,548 |
Asia Pacific (other than China and Japan) | 973 |  |  | 982 |
China | 198 |  |  | 202 |
Japan | 145 |  |  | 143 |
Latin America | 135 |  |  | 133 |
Other | 49 |  |  | 47 |
| $ | 24,793 |  |  | $ | 23,779 |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration