Merck reported third-quarter 2026 sales of $18.1 billion, up 5% from a year earlier, and raised the midpoint of its full-year sales and adjusted earnings outlook. Growth included continued strength in oncology and Animal Health, alongside rapid expansion of newer product WINREVAIR.
The company also highlighted clinical and regulatory progress across its pipeline, including a priority review for a cancer drug application and new trial results in oncology and immunology.
Financial results and outlook
- Worldwide sales were $18.1 billion, up 5% year over year, or 4% excluding currency effects.
- KEYTRUDA and KEYTRUDA QLEX together generated $8.6 billion, up 6%. KEYTRUDA QLEX sales were $830 million; the product is available in some markets as a subcutaneous formulation.
- WINREVAIR sales were $694 million, up 93%.
- Animal Health sales were $1.7 billion, up 4%, or 3% excluding currency effects.
- Merck reported earnings per share of $2.04 on a GAAP basis and $2.49 on a non-GAAP basis. Both figures include a one-time charge of 12 cents per share related to a global license agreement with SciBrunch.
- For full-year 2026, Merck now expects sales of $66.8 billion to $67.3 billion. The company said it narrowed the range and raised its midpoint.
- Merck also narrowed and raised the midpoint of its full-year non-GAAP earnings-per-share outlook to $2.77 to $2.82. The range includes the 12-cent-per-share SciBrunch charge.
Pipeline and product developments
- Merck presented first-time pivotal Phase 3 results at the 2026 ESMO Congress from multiple oncology programs.
- The U.S. FDA accepted Merck’s application for priority review for sacituzumab tirumotecan, also called sac-TMT. The application is based on the Phase 3 TroFuse-005 trial in certain patients with advanced or recurrent endometrial cancer.
- Merck and Moderna presented results from INTerpath-001, a Phase 3 trial testing intismeran autogene plus KEYTRUDA as adjuvant treatment for people with resected stage IIB-IV melanoma.
- Merck reported positive Phase 2b results for investigational immunology drug tulisokibart in people with moderate-to-severe hidradenitis suppurativa.
- The company presented one-year results from the Phase 2b/3 BRUNELLO trial of remigromig in adults with diabetic macular edema. The announcement did not characterize those results as positive.
What changes for investors
Merck’s updated outlook reflects a higher midpoint for both sales and non-GAAP earnings than its prior guidance, though the revised ranges also are narrower. The quarterly figures show growth in major oncology products and Animal Health, with WINREVAIR expanding quickly from a smaller sales base. The pipeline updates include a regulatory step for sac-TMT and further clinical data across several programs; the announcement does not provide enough detail to quantify their potential financial contribution.