- Merck's first-quarter 2025 total worldwide sales reached $15.5 billion, a slight decrease of 2% compared to 2024.
- KEYTRUDA sales grew by 4% to $7.2 billion, while GARDASIL/GARDASIL 9 sales saw a significant decline of 41% to $1.3 billion.
- Merck reaffirmed its full-year financial outlook with expected sales between $64.1 billion and $65.6 billion.
Merck (MRK, Financial) has reported its financial results for the first quarter of 2025, indicating a total worldwide sales figure of $15.5 billion, which represents a 2% decrease from the first quarter of 2024. Excluding the impact of foreign exchange, however, sales increased by 1%.
The company's immuno-oncology drug, KEYTRUDA, showed strong performance with a 4% increase in sales to $7.2 billion. When excluding foreign exchange effects, KEYTRUDA sales rose by 6%. In contrast, the HPV vaccine GARDASIL/GARDASIL 9 experienced a significant 41% drop in sales to $1.3 billion, primarily due to reduced demand in China.
On the other hand, Merck's animal health segment witnessed a 5% growth to $1.6 billion, with a 10% increase when not factoring in foreign exchange impacts. The growth was mainly driven by higher demand for livestock products.
Merck presented promising data from various programs, including a Phase 3 ZENITH trial for WINREVAIR, showing success in treating pulmonary arterial hypertension. Additionally, Merck has expanded its pipeline with an exclusive license agreement with Hengrui Pharma for an investigational oral small molecule Lipoprotein(a) [Lp(a)] inhibitor.
For the full year 2025, Merck continues to expect worldwide sales between $64.1 billion and $65.6 billion and has adjusted its non-GAAP EPS expectations to now range between $8.82 and $8.97. This revision accounts for a one-time charge of approximately $0.06 per share related to the Hengrui Pharma license agreement.
