Merck & Co. revenue 2006-2023

The revenue of Merck & Co. increased in 2023, rising from 59.3 billion U.S. dollars in 2022 to approximately 60.1 billion U.S. dollars in 2023. During 2021, Merck spun-off its women’s health, biosimilars and established brands businesses into a new publicly traded company named Organon & Co.

Revenues lifted by sales of cancer treatments

The majority of Merck’s revenue comes from its pharmaceutical segment, which includes human health and vaccine products. The company’s oncology franchise, which is dedicated to the study of cancer, generates the largest share of its pharmaceutical revenues. Revenues of Keytruda, a drug used to fight cancer, was particularly strong over the last years – increasing by around four billion U.S. dollars between 2022 and 2023.

The importance of investing in innovation

Higher sales of vaccine products also contributed to the increase in Merck’s revenue in 2023, primarily driven by a strong grwoth in sales of Gardasil/Gardasil 9, which can help in the prevention of certain cancers. Developing commercially successful products, such as Keytruda and Gardasil, is essential if Merck & Co. want to compete in the industry. The company continues to recognize the importance of research and development and has annually invested around ten billion U.S. dollars in the search for innovative medicines over the last few years, and an record high of 30.5 billion dollars of R&D spending in 2023.