MRK · 10-Q · 2026Q2 · Full report

Competition and Pricing Pressure

Merck & Co., Inc. · 2026-08-07 · Importance 78 · Surprise 74 · In source text

Competitive pressure and loss of exclusivity materially reduced sales of Januvia/Janumet, Dificid, and Lagevrio, while generic competition also weakened international Bridion demand and contributed to Vaxneuvance declines in the U.S. and Asia Pacific. Januvia and Janumet sales declined 31% in the second quarter and 29% in the first six months, with U.S. market exclusivity lost in May 2026 and additional Janumet XR exclusivity lost in July 2026. Keytruda faces biosimilar launches in Argentina and other smaller international markets, although Merck expects the 2026 impact to be immaterial.

Key facts

• Dificid worldwide sales declined 77% and 69% in the second quarter and first six months of 2026, respectively, due to generic competition in the U.S.; Dificid lost market exclusivity in the U.S. in July 2025. source
• Worldwide combined sales of Januvia and Janumet declined 31% and 29% in the second quarter and first six months of 2026, respectively; Januvia and Janumet lost U.S. market exclusivity in May 2026 and Janumet XR lost U.S. market exclusivity in July 2026. source
• Bridion global sales grew 8% and 7% in the second quarter and first six months of 2026, respectively; Bridion lost market exclusivity in the U.S. in July 2026 and Merck expects U.S. sales to decline in future periods and to discontinue U.S. sales in 2027 as generic supply stabilizes. source
• The Company expects it will lose a substantial portion of U.S. sales of Januvia, Janumet and Janumet XR in future periods due to generic competition. source

Impact estimates