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Merck on Tuesday reported fourth-quarter earnings and revenue that topped estimates on strong demand for its cancer immunotherapy Keytruda and some newer products.
But the company posted a modest 2026 outlook that fell short of Wall Street’s expectations as it prepares for a few drugs to lose patent protection later this year and face generic competition. That includes Type 2 diabetes drugs, Januvia and Janumet, and Bridion, a treatment that helps restore muscle function that was blocked during surgery.
While those medicines aren’t top-selling products like Keytruda, their combined lower sales will likely pressure the company.
The pharmaceutical giant anticipates its 2026 revenue will come in between $65.5 billion and $67 billion. Analysts expected revenue of $67.6 billion, according to LSEG.
