MRK · News · 20261105N

Revenue Performance and Mix

Merck & Co., Inc. · 2026-11-05 · Importance 36 · Surprise 40 · No source text

Merck reported Q3 2026 sales of $18.09 billion, up 4.7% year over year, while net income fell 12.4% and diluted EPS declined 12.1%. Combined Keytruda and Keytruda Qlex sales rose 6% to $8.60 billion, including $830 million from Keytruda Qlex and $7.77 billion from Keytruda excluding Qlex. Approximately $550 million of U.S. sales benefited from purchase timing, with the benefit expected to reverse; Keytruda-specific U.S. inventory timing contributed about $200 million and was also expected to reverse in Q4.

Key facts

• Merck reported Q3 2026 sales of $18.09 billion, up 4.7%. source
• Combined Keytruda and Keytruda Qlex sales increased 6% to $8.60 billion in Q3 2026. source
• Merck's U.S. sales received a $550 million boost due to purchase timing, which was expected to reverse. source
• Excluding Keytruda Qlex sales, Keytruda recorded Q3 2026 sales of $7.77 billion, above the Zacks Consensus Estimate of $7.46 billion. source
• Merck planned a launch for Lipfendra. source
• Keytruda Qlex contributed $830 million during Q3 2026. source
• Merck's Q3 2026 net income fell 12.4% and diluted EPS declined 12.1%. source
• Merck received U.S. approvals for Lipfendra and Idvynso. source

Impact estimates