# Merck & Co., Inc.

Summary updated: 2026-03-19T00:04:13.281092Z
Canonical: https://finbar.com/research/companies/merck-co

## Overview

Merck & Co., Inc. is a global healthcare company focused on discovering, developing, manufacturing and marketing prescription medicines, biologic therapies, vaccines and animal health products. The company manages its business principally on a product basis through two reportable segments: Pharmaceutical and Animal Health [1](https://app.finbar.com/go?id=P-c06c91f5190641a8bf4489bc1c9cff84). Within those businesses, its portfolio spans human therapeutics and vaccines as well as veterinary pharmaceuticals and vaccines for livestock and companion animals, with products such as Keytruda and Gardasil/Gardasil 9 serving as major anchors of the franchise [2](https://app.finbar.com/go?id=P-0a2f06bb1421446c94f2285198237a72)[3](https://app.finbar.com/go?id=P-0fea301d274e445a9a47907215b5e4eb)[4](https://app.finbar.com/go?id=P-2c92eea331664283bb1ba8a4e4cd6010). Merck states that its mission is to use the power of leading-edge science to save and improve lives around the world [5](https://www.merck.com/company-overview/).

The company has a broad international footprint, with 2024 sales generated across the United States, Europe, the Middle East and Africa, China, Latin America, Japan and the rest of Asia-Pacific [6](https://app.finbar.com/go?id=P-70ed85c3d880403daa911a992d471cb9)[7](https://app.finbar.com/go?id=T-415afc592c614f89b76924b75442614d). In 2024, Merck reported worldwide sales of $64.2 billion and employed approximately 75,000 people worldwide, including about 31,000 in the United States, indicating substantial scale in global biopharmaceuticals and animal health [8](https://app.finbar.com/go?id=P-48927e2fb9044ccfb15ae9acec16455c)[9](https://app.finbar.com/go?id=P-0240e4e431354f28b79f258036fb2a9a).
[1](https://app.finbar.com/go?id=P-c06c91f5190641a8bf4489bc1c9cff84)[2](https://app.finbar.com/go?id=P-0a2f06bb1421446c94f2285198237a72)[3](https://app.finbar.com/go?id=P-0fea301d274e445a9a47907215b5e4eb)[4](https://app.finbar.com/go?id=P-2c92eea331664283bb1ba8a4e4cd6010)[6](https://app.finbar.com/go?id=P-70ed85c3d880403daa911a992d471cb9)[7](https://app.finbar.com/go?id=T-415afc592c614f89b76924b75442614d)[8](https://app.finbar.com/go?id=P-48927e2fb9044ccfb15ae9acec16455c)[9](https://app.finbar.com/go?id=P-0240e4e431354f28b79f258036fb2a9a)[5](https://www.merck.com/company-overview/)

## Products & services

Merck’s product portfolio is led by human pharmaceuticals and vaccines. Its largest named product is Keytruda, an anti-PD-1 therapy used across multiple cancer indications, and its vaccine portfolio includes Gardasil/Gardasil 9, HPV vaccines that help prevent certain cancers and diseases caused by HPV. Other specifically identified products include Bridion, which reverses two types of neuromuscular blocking agents used during surgery; Winrevair, an activin signaling inhibitor for adults with pulmonary arterial hypertension; Capvaxive, a 21-valent pneumococcal conjugate vaccine; Vaxneuvance, which helps protect against invasive pneumococcal disease caused by certain serotypes; and Januvia and Janumet for type 2 diabetes [3](https://app.finbar.com/go?id=P-0fea301d274e445a9a47907215b5e4eb)[4](https://app.finbar.com/go?id=P-2c92eea331664283bb1ba8a4e4cd6010)[10](https://app.finbar.com/go?id=P-9c491634084f4586abe10cc5a8e32983)[11](https://app.finbar.com/go?id=P-319d8001acdd4b299b114f9737d06ff1)[12](https://app.finbar.com/go?id=P-30180b410c0644a0aaa72256cb276ca8)[13](https://app.finbar.com/go?id=P-de99df8835624cfdbb8ca64d041e4368)[14](https://app.finbar.com/go?id=P-48919adb33e842e294147ef807fa30fa)

In 2024, the pharmaceutical segment produced $57.4 billion of sales, about 89.5% of Merck’s total revenue. Keytruda accounted for $29.5 billion, or about 46.0% of total sales, while Gardasil/Gardasil 9 contributed $8.6 billion, or about 13.4%; Bridion contributed $1.8 billion, or about 2.7% [15](https://app.finbar.com/go?id=T-4bd7c814df164236915fa519137627df).

Merck’s animal health offerings include veterinary pharmaceuticals, vaccines, health management solutions and services, and digitally connected identification, traceability and monitoring products. Named products include Bravecto, a line of oral, topical and injectable parasitic control products for dogs and cats, with formulations ranging from one-month protection to up to 12 weeks or up to one year depending on the product; Bovilis/Vista vaccines for infectious diseases in cattle, including Bovilis Cryptium for protection against Cryptosporidium parvum; Banamine (flunixin meglumine) anti-inflammatory products for bovine and swine; and Nobilis/Innovax vaccine lines for poultry. The segment also includes Allflex Livestock Intelligence solutions for animal identification, monitoring and traceability, plus Sure Petcare and HomeAgain products for companion-animal identification and well-being, including microchips and pet recovery services [16](https://app.finbar.com/go?id=P-a06edaf2b49d4b7091570931797de2d6)[17](https://app.finbar.com/go?id=P-5da7355241474bf4aca7e273469800f8)[18](https://app.finbar.com/go?id=P-9d5227f3e25c4150b2742cf9cdd7bd32)[19](https://app.finbar.com/go?id=P-c01a79ceebce40e191f3fc2063d8d96a)[15](https://app.finbar.com/go?id=T-4bd7c814df164236915fa519137627df)
[3](https://app.finbar.com/go?id=P-0fea301d274e445a9a47907215b5e4eb)[4](https://app.finbar.com/go?id=P-2c92eea331664283bb1ba8a4e4cd6010)[10](https://app.finbar.com/go?id=P-9c491634084f4586abe10cc5a8e32983)[11](https://app.finbar.com/go?id=P-319d8001acdd4b299b114f9737d06ff1)[12](https://app.finbar.com/go?id=P-30180b410c0644a0aaa72256cb276ca8)[13](https://app.finbar.com/go?id=P-de99df8835624cfdbb8ca64d041e4368)[14](https://app.finbar.com/go?id=P-48919adb33e842e294147ef807fa30fa)[15](https://app.finbar.com/go?id=T-4bd7c814df164236915fa519137627df)[16](https://app.finbar.com/go?id=P-a06edaf2b49d4b7091570931797de2d6)[17](https://app.finbar.com/go?id=P-5da7355241474bf4aca7e273469800f8)[18](https://app.finbar.com/go?id=P-9d5227f3e25c4150b2742cf9cdd7bd32)[19](https://app.finbar.com/go?id=P-c01a79ceebce40e191f3fc2063d8d96a)

## Geographic presence

Merck & Co. has a broadly diversified geographic revenue base split roughly evenly between the United States and international markets. In 2024, the United States accounted for $32.3 billion of sales, or about 50.3% of total revenue, while Europe, Middle East and Africa contributed $14.0 billion (21.9%), China $5.5 billion (8.6%), Latin America $3.5 billion (5.4%), Japan $3.3 billion (5.1%), Asia Pacific excluding China and Japan $3.1 billion (4.8%), and other markets $2.6 billion (4.0%). Merck states that sales generated by subsidiaries outside the U.S. represented 50% of total company sales in 2024, compared with 53% in 2023 and 54% in 2022.[6](https://app.finbar.com/go?id=P-70ed85c3d880403daa911a992d471cb9)[7](https://app.finbar.com/go?id=T-415afc592c614f89b76924b75442614d)[20](https://app.finbar.com/go?id=P-88162ecdb9e346a084dd866617cd976b)

Its operating footprint is also global. Merck says its operations outside the U.S. are conducted primarily through subsidiaries, with activities in Latin America, the Middle East, Africa, Eastern Europe and Asia Pacific, and it owns or has interests in manufacturing plants or other properties outside the U.S. in Western Europe, Africa and Asia.[20](https://app.finbar.com/go?id=P-88162ecdb9e346a084dd866617cd976b)[21](https://app.finbar.com/go?id=P-9403a21d086d4c4cb1c76c8c9c7f6ce5)[22](https://app.finbar.com/go?id=P-6efbe62f3a4f4e168f3ab2b61c8b07ec) Principal U.S. research facilities are located in Rahway, New Jersey; West Point, Pennsylvania; Boston and Cambridge, Massachusetts; South San Francisco, California; and Elkhorn, Nebraska, while research facilities outside the U.S. are in the United Kingdom, Switzerland and China. Manufacturing is headquartered in Rahway, with production facilities in the U.S. and Puerto Rico.[23](https://app.finbar.com/go?id=P-844af1dcaf614172aed3c098d7f3dead)

As of December 31, 2024, Merck had approximately 75,000 employees worldwide, including about 31,000 in the U.S. including Puerto Rico, and it also relied on roughly 15,000 third-party contractors globally.[9](https://app.finbar.com/go?id=P-0240e4e431354f28b79f258036fb2a9a)
[6](https://app.finbar.com/go?id=P-70ed85c3d880403daa911a992d471cb9)[7](https://app.finbar.com/go?id=T-415afc592c614f89b76924b75442614d)[20](https://app.finbar.com/go?id=P-88162ecdb9e346a084dd866617cd976b)[21](https://app.finbar.com/go?id=P-9403a21d086d4c4cb1c76c8c9c7f6ce5)[22](https://app.finbar.com/go?id=P-6efbe62f3a4f4e168f3ab2b61c8b07ec)[23](https://app.finbar.com/go?id=P-844af1dcaf614172aed3c098d7f3dead)[9](https://app.finbar.com/go?id=P-0240e4e431354f28b79f258036fb2a9a)

## Business segments

Merck reports two operating and reportable segments: Pharmaceutical and Animal Health. [1](https://app.finbar.com/go?id=P-c06c91f5190641a8bf4489bc1c9cff84) The Pharmaceutical segment covers human health prescription medicines and vaccines, including therapeutic and preventive agents as well as pediatric, adolescent and adult vaccines. [24](https://app.finbar.com/go?id=P-0492260e266e46a1a9ae040ee7b2f64d) The Animal Health segment covers veterinary pharmaceuticals and vaccines, health management solutions and services, and digitally connected identification, traceability and monitoring products for livestock and companion animals. [25](https://app.finbar.com/go?id=P-74a57a8b9b2d48a797e6a85ffe9dbe96) In 2024, Pharmaceutical generated $57.4 billion of sales, or roughly 89% of total company sales, while Animal Health generated $5.9 billion, or about 9%; the remaining roughly 1% was other revenue. [15](https://app.finbar.com/go?id=T-4bd7c814df164236915fa519137627df)[26](https://app.finbar.com/go?id=P-9f2c627f68f6476fb0f4dcfed0094297)

Merck also presents a more granular sales view beneath its formal segment structure. Within Pharmaceutical, it groups sales under Oncology, Vaccines, Hospital Acute Care, Cardiovascular, Virology, Neuroscience, Immunology, Diabetes and Other Pharmaceutical, while within Animal Health it shows Livestock and Companion Animal. [15](https://app.finbar.com/go?id=T-4bd7c814df164236915fa519137627df)[27](https://app.finbar.com/go?id=T-2152cd0fe98d436b803a1c9ec645c135) On that basis, 2024 Animal Health sales were split between Livestock at $3.5 billion and Companion Animal at $2.4 billion, or about 59% and 41% of the segment, respectively. [27](https://app.finbar.com/go?id=T-2152cd0fe98d436b803a1c9ec645c135)
[1](https://app.finbar.com/go?id=P-c06c91f5190641a8bf4489bc1c9cff84)[24](https://app.finbar.com/go?id=P-0492260e266e46a1a9ae040ee7b2f64d)[25](https://app.finbar.com/go?id=P-74a57a8b9b2d48a797e6a85ffe9dbe96)[15](https://app.finbar.com/go?id=T-4bd7c814df164236915fa519137627df)[26](https://app.finbar.com/go?id=P-9f2c627f68f6476fb0f4dcfed0094297)[27](https://app.finbar.com/go?id=T-2152cd0fe98d436b803a1c9ec645c135)

## Company history

Merck & Co., Inc. traces its U.S. origins to January 1, 1891, when George Merck founded the company as a distributor of fine chemicals in New York.[28](https://www.merck.com/company-overview/history/) An early milestone followed in 1899 with publication of the first Merck Manual.[28](https://www.merck.com/company-overview/history/)[29](https://www.merckmanuals.com/professional/resourcespages/history) In the 1940s, Merck collaborated with Rutgers University on streptomycin, which the company describes as the first antibiotic effective against tuberculosis, and in 1953 it merged with Sharp & Dohme, giving rise to the Merck Sharp & Dohme identity.[30](https://www.merck.com/stories/mercks-legacy-of-antimicrobial-innovation-and-action/)[28](https://www.merck.com/company-overview/history/)

Later milestones reshaped the company through both public-health initiatives and corporate transactions. In 1987, Merck established the Mectizan Donation Program, which it describes as the longest-running disease-specific drug donation program of its kind.[31](https://app.finbar.com/go?id=P-55515a4df08f47749dd98231aa3e8650) Merck acquired Medco Containment Services in 1993 and spun it off as Medco Health Solutions in 2003.[32](https://www.upi.com/Archives/1993/11/18/Merck-Medco-complete-merger/2530753598800/)[33](https://www.sec.gov/Archives/edgar/data/1170650/000095013003004102/dex991.htm) The company then completed its merger with Schering-Plough in 2009.[34](https://www.sec.gov/Archives/edgar/data/310158/000119312509223917/dex991.htm) In the following decade, Merck added major product milestones including the 2006 U.S. approval of Gardasil and the 2014 accelerated FDA approval of Keytruda, the first anti-PD-1 therapy approved in the United States; Gardasil 9 was also approved in 2014.[35](https://www.merck.com/news/merck-statement-on-gardasil/)[36](https://app.finbar.com/go?id=P-fb20a36f84c1409e9dfaac10977a3b08)[37](https://app.finbar.com/go?id=P-be7bdbf190e54069a2e67ba4226254a0)
[31](https://app.finbar.com/go?id=P-55515a4df08f47749dd98231aa3e8650)[36](https://app.finbar.com/go?id=P-fb20a36f84c1409e9dfaac10977a3b08)[37](https://app.finbar.com/go?id=P-be7bdbf190e54069a2e67ba4226254a0)[28](https://www.merck.com/company-overview/history/)[29](https://www.merckmanuals.com/professional/resourcespages/history)[30](https://www.merck.com/stories/mercks-legacy-of-antimicrobial-innovation-and-action/)[32](https://www.upi.com/Archives/1993/11/18/Merck-Medco-complete-merger/2530753598800/)[33](https://www.sec.gov/Archives/edgar/data/1170650/000095013003004102/dex991.htm)[34](https://www.sec.gov/Archives/edgar/data/310158/000119312509223917/dex991.htm)[35](https://www.merck.com/news/merck-statement-on-gardasil/)

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