MRK · 10-Q · 2026Q3 · Full report
Competition and Market Share
Merck & Co., Inc. · 2026-11-04 · Importance 63 · Surprise 64 · In source text
Generic competition drove significant declines in Januvia and Janumet sales after U.S. exclusivity ended in May 2026, and Janumet XR exclusivity ended in July; declines are expected to continue. Dificid sales fell 68% year over year as U.S. generic competition continued after its July 2025 loss of exclusivity. Bridion sales declined 67% in the quarter following U.S. generic entry in July 2026, with Merck anticipating discontinuation of U.S. sales in 2027. Vaxneuvance also faced competition-related lower demand in the Asia Pacific region, while Keytruda biosimilar launches in Argentina and smaller international markets were expected to have an immaterial 2026 effect.
Key facts
- Dificid worldwide sales declined 68% in Q3 and the first nine months of 2026 due to U.S. generic competition; Merck expects the decline to continue after U.S. exclusivity ended in July 2025. source
- Januvia and Janumet worldwide sales declined 39% in Q3 2026 and 32% in the first nine months, primarily due to U.S. generic competition; U.S. exclusivity ended in May 2026 for both and July 2026 for Janumet XR, and declines are expected to continue. source
- Bridion sales declined 67% in Q3 2026 and 17% in the first nine months, primarily due to U.S. generic competition after loss of exclusivity in July 2026. source
- Merck expects the U.S. Bridion sales decline to continue and anticipates discontinuing U.S. sales in 2027 as generic supply stabilizes. source
- Alliance revenue from Adempas/Verquvo grew 5% in Q3 2026 and 4% in the first nine months, primarily reflecting higher demand in Bayer's marketing territories; Merck expects full-year 2026 alliance revenue to decline due to U.S. Adempas loss of exclusivity. source
- Merck anticipates Keytruda biosimilar erosion will have an immaterial effect on 2026 sales. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | realized | — | Dificid worldwide sales declined 68% in Q3 and the first nine months of 2026 due to U.S. generic competition; Merck expects the decline to… |
| revenue | negative | probable | — | Dificid worldwide sales declined 68% in Q3 and the first nine months of 2026 due to U.S. generic competition; Merck expects the decline to… |
| revenue | negative | realized | — | Januvia and Janumet worldwide sales declined 39% in Q3 2026 and 32% in the first nine months, primarily due to U.S. generic competition;… |
| revenue | negative | probable | — | Januvia and Janumet worldwide sales declined 39% in Q3 2026 and 32% in the first nine months, primarily due to U.S. generic competition;… |
| revenue | negative | realized | — | Bridion sales declined 67% in Q3 2026 and 17% in the first nine months, primarily due to U.S. generic competition after loss of… |
| revenue | negative | probable | — | Merck expects the U.S. Bridion sales decline to continue and anticipates discontinuing U.S. sales in 2027 as generic supply stabilizes. |
| revenue | positive | realized | — | Alliance revenue from Adempas/Verquvo grew 5% in Q3 2026 and 4% in the first nine months, primarily reflecting higher demand in Bayer's… |
| revenue | negative | probable | — | Alliance revenue from Adempas/Verquvo grew 5% in Q3 2026 and 4% in the first nine months, primarily reflecting higher demand in Bayer's… |