Merck's Strong 2024 Performance Driven by KEYTRUDA and WINREVAIR; Animal Health Segment Shines

Merck (NYSE: MRK), known as MSD outside the United States and Canada, reported robust financial results for the fourth quarter and full year of 2024, driven by strong performance in its innovative portfolio, particularly KEYTRUDA and WINREVAIR, and a standout Animal Health segment. The company's focus on innovative therapies and strategic business development transactions has positioned it for continued growth and success.

Fourth-Quarter and Full-Year 2024 Financial Results

* Total worldwide sales for the fourth quarter were $15.6 billion, an increase of 7% from the fourth quarter of 2023, excluding the impact of foreign exchange, which grew by 9%.
* Full-year worldwide sales were $64.2 billion, an increase of 7% from full-year 2023, excluding the impact of foreign exchange, which grew by 10%.
* KEYTRUDA sales grew 18% to $29.5 billion, excluding the impact of foreign exchange, which grew by 22%.
* WINREVAIR sales were $419 million, with the U.S. launch gaining momentum and approval in the EU.
* Animal Health sales grew 4% to $5.9 billion, excluding the impact of foreign exchange, which grew by 8%.
* GARDASIL/GARDASIL 9 sales declined 3% to $8.6 billion, excluding the impact of foreign exchange, which declined by 2%.
* Full-year 2024 GAAP EPS was $6.74, and non-GAAP EPS was $7.65, including a net charge of $1.28 per share related to certain business development transactions.

Key Drivers and Strategic Business Development Transactions

* The successful launch of WINREVAIR and strong performance of the Animal Health segment were driven by increased usage of Merck's innovative therapies, strategic partnerships, and digital health solutions.
* Merck's pipeline is advancing and expanding, with positive results from clinical studies and regulatory approvals, such as CAPVAXIVE and Clesrovimab.
* The company's strategic business development transactions, such as the acquisition of CN201 and the licensing agreement with LaNova, have expanded its pipeline and positioned it for long-term growth.

Outlook and Future Growth

* Merck anticipates worldwide sales to be between $64.1 billion and $65.6 billion in 2025, with non-GAAP EPS expected to be between $8.88 and $9.03, reflecting a one-time charge of approximately $0.09 per share related to an anticipated milestone payment to LaNova.
* The company remains well-positioned for long-term growth, driven by its innovative portfolio, strategic business development transactions, and the dedication of its global team.




In conclusion, Merck's strong financial performance in 2024, driven by KEYTRUDA, WINREVAIR, and the Animal Health segment, demonstrates the company's commitment to innovation and strategic business development. With a robust pipeline, strategic partnerships, and a dedicated global team, Merck is well-positioned for continued growth and success in the years to come.