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Merck
on Tuesday said it will slash $3 billion in costs by the end of 2027 to be fully reinvested to support new product launches and its drug pipeline.
The multi-year effort comes as Merck prepares to offset revenue losses from the upcoming patent expiration of its blockbuster cancer drug Keytruda in 2028. It also comes as drugmakers brace for President Donald Trump’s planned tariffs on pharmaceuticals imported into the U.S., which has prompted Merck and other companies to invest billions to boost their manufacturing footprints in the U.S.
Shares of the pharmaceutical giant fell roughly 3% in premarket trading on Tuesday.
