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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Sales from Products

Sales of the Company’s products were as follows:

			Three Months Ended September 30,																																				Nine Months Ended September 30,
			2025																		2024																		2025																		2024
($ in millions)			U.S.						Int’l						Total						U.S.						Int’l						Total						U.S.						Int’l						Total						U.S.						Int’l						Total
Pharmaceutical:
Oncology
Keytruda			$	4,879					$	3,263					$	8,142					$	4,500					$	2,929					$	7,429					$	13,936					$	9,367					$	23,303					$	13,031					$	8,614					$	21,646
Alliance revenue-Lynparza (1)			184						195						379						161						177						337						503						558						1,061						449						498						947
Alliance revenue-Lenvima (1)			177						81						258						173						78						251						545						236						781						523						233						755
Welireg			161						35						196						127						12						139						422						74						496						320						29						349
Alliance revenue-Reblozyl (2)			111						25						136						82						18						100						299						62						361						215						45						261
Vaccines
Gardasil/Gardasil 9			1,154						595						1,749						1,020						1,285						2,306						2,235						1,967						4,202						2,045						4,988						7,032
ProQuad/M-M-R II/Varivax			554						130						684						572						131						703						1,457						374						1,832						1,500						391						1,891
Vaxneuvance			134						91						226						137						103						239						409						276						685						397						251						647
RotaTeq			141						63						204						131						62						193						366						187						554						388						185						572
Capvaxive			238						7						244						47						—						47						473						8						480						47						—						47
Pneumovax 23			10						35						45						19						49						68						13						111						124						36						152						188
Hospital Acute Care
Bridion			392						47						439						339						81						420						1,181						161						1,341						1,020						296						1,315
Prevymis			128						138						266						101						107						208						345						357						702						265						305						570
Zerbaxa			49						32						81						39						26						64						136						89						225						106						77						182
Dificid			30						13						43						83						13						96						185						37						222						231						30						261
Cardiovascular
Winrevair			335						25						360						147						3						149						926						49						976						216						3						219
Alliance revenue-Adempas/Verquvo (3)			103						8						112						96						7						102						308						32						340						283						22						306
Adempas			—						82						82						—						72						72						—						229						229						—						214						214
Virology
Lagevrio			24						114						138						84						299						383						90						233						323						144						699						843
Isentress/Isentress HD			44						37						82						54						48						102						144						114						258						147						155						302
Delstrigo			13						64						77						15						50						65						42						185						228						42						139						180
Pifeltro			29						14						43						31						12						42						86						43						128						86						37						123
Neuroscience
Belsomra			28						19						47						20						58						78						59						77						137						53						124						177
Immunology
Simponi			—						—						—						—						189						189						—						—						—						—						545						545
Remicade			—						—						—						—						41						41						—						—						—						—						115						115
Diabetes
Januvia			258						124						382						67						211						278						819						483						1,302						428						674						1,102
Janumet			78						165						243						15						190						204						210						530						741						70						610						679
Other pharmaceutical (4)			239						716						953						167						466						638						558						1,713						2,268						521						1,364						1,890
Total Pharmaceutical segment sales			9,493						6,118						15,611						8,227						6,717						14,943						25,747						17,552						43,299						22,563						20,795						43,358
Animal Health:
Livestock			213						811						1,023						194						692						886						598						2,312						2,909						529						2,044						2,573
Companion Animal			291						301						592						293						307						601						907						1,033						1,940						888						1,019						1,907
Total Animal Health segment sales			504						1,112						1,615						487						999						1,487						1,505						3,345						4,849						1,417						3,063						4,480
Total segment sales			9,997						7,230						17,226						8,714						7,716						16,430						27,252						20,897						48,148						23,980						23,858						47,838
Other (5)			15						34						50						22						206						227						119						343						463						109						597						706
			$	10,012					$	7,264					$	17,276					$	8,736					$	7,922					$	16,657					$	27,371					$	21,240					$	48,611					$	24,089					$	24,455					$	48,544

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. Also reflects total alliance revenue for Koselugo of $214 million and $39 million in the third quarter of 2025 and 2024, respectively, and $301 million and $114 million in the first nine months of 2025 and 2024, respectively (see Note 3).

(5)    Other is primarily comprised of miscellaneous corporate revenue, including revenue hedging activities which (decreased) increased sales by $(61) million and $156 million for the nine months ended September 30, 2025 and 2024, respectively, as well as revenue from third-party manufacturing arrangements (including sales to Organon & Co.). Other for the nine months ended September 30, 2025 and 2024 also includes $111 million and $91 million, respectively, related to upfront and milestone payments received by Merck for out-licensing arrangements.

Schedule of Consolidated Sales by Geographic Area

Consolidated sales by geographic area where derived are as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
($ in millions)			2025						2024						2025						2024
United States			$	10,012					$	8,736					$	27,371					$	24,089
Europe, Middle East and Africa			3,680						3,583						10,789						10,661
Latin America			905						936						2,556						2,591
Asia Pacific (other than China and Japan)			764						823						2,238						2,294
Japan			712						938						2,007						2,445
China			405						1,017						1,553						4,606
Other			798						624						2,097						1,858
			$	17,276					$	16,657					$	48,611					$	48,544

Schedule of Reconciliation of Segment Profits to Income before Taxes

A reconciliation of segment profits to Income Before Taxes is as follows:

			Three Months Ended September 30,																																				Nine Months Ended September 30,
			2025																		2024																		2025																		2024
($ in millions)			Pharma- ceutical						Animal Health						Total						Pharma- ceutical						Animal  Health						Total						Pharma-ceutical						Animal Health						Total						Pharma-ceutical						Animal Health						Total
Segment sales			$	15,611					$	1,615					$	17,226					$	14,943					$	1,487					$	16,430					$	43,299					$	4,849					$	48,148					$	43,358					$	4,480					$	47,838
Less segment costs: (1)
Cost of sales			1,664						710												1,904						613												4,838						1,968												5,319						1,838
Selling, general and administrative			1,469						277												1,519						268												4,327						822												4,462						791
Research and development (2)			—						118												—						95												—						323												—						276
Other segment items (3)			(60)						(1)												(27)						1												(130)						(1)												(74)						1
Total segment profits			$	12,538					$	511					$	13,049					$	11,547					$	510					$	12,057					$	34,264					$	1,737					$	36,001					$	33,651					$	1,574					$	35,225
Other profits															4																		117																		235																		391
Unallocated:
Interest income															96																		127																		274																		269
Interest expense															(327)																		(330)																		(946)																		(943)
Amortization															(623)																		(633)																		(1,820)																		(1,720)
Depreciation															(449)																		(467)																		(1,345)																		(1,368)
Research and development															(3,839)																		(5,716)																		(11,159)																		(12,926)
Restructuring costs															(47)																		(56)																		(676)																		(258)
Other unallocated, net															(1,119)																		(1,009)																		(2,917)																		(2,904)
															$	6,745																	$	4,090																	$	17,647																	$	15,766

(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.

Schedule of 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 September 30,																																				Nine Months Ended September 30,
			2025																		2024																		2025																		2024
($ in millions)			Pharma- ceutical						Animal Health						Total						Pharma- ceutical						Animal  Health						Total						Pharma-ceutical						Animal Health						Total						Pharma-ceutical						Animal Health						Total
Equity income from affiliates			$	62					$	—					$	62					$	43					$	—					$	43					$	148					$	—					$	148					$	121					$	—					$	121
Depreciation			1						82						83						1						85						86						4						203						207						3						211						214

Schedule of Property, Plant and Equipment, Net by Geographic Area

Property, plant and equipment, net, by geographic area where located is as follows:

($ in millions)			September 30, 2025						December 31, 2024
United States			$	15,482					$	14,724
Europe, Middle East and Africa			8,665						7,548
Asia Pacific (other than China and Japan)			948						982
China			208						202
Japan			147						143
Latin America			139						133
Other			50						47
			$	25,639					$	23,779

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