Acquisition-Driven R&D Charges
A $5.7 billion IPR&D charge for Terns' MK-4208 and a $9.0 billion charge for Cidara's MK-1406 in the first six months caused a sharp rise in R&D expenses, turning the company unprofitable on a GAAP basis.
Merck & Co., Inc. is expected to release its Q3 2026 10-Q filing on October 29, 2026. Last quarter: Merck reported a net loss in Q2 FY2026 due to a $5.7 billion acquisition charge, even as revenue grew 5% to $16.6 billion driven by Keytruda and Winrevair.
EPS Estimate
$2.30
Revenue Estimate
$17.52B
Analyst consensus from Finnhub and Financial Modeling Prep. Actual results posted within minutes of the SEC filing on the MRK page.
Drawn from management commentary in the Q2 2026 10-Q:
A $5.7 billion IPR&D charge for Terns' MK-4208 and a $9.0 billion charge for Cidara's MK-1406 in the first six months caused a sharp rise in R&D expenses, turning the company unprofitable on a GAAP basis.
Government-set prices for Januvia took effect January 2026, contributing to lower diabetes sales; Janumet/Janumet XR price setting begins in 2027, and Lenvima was selected for 2028.
Keytruda sales rose 5%, benefiting from higher net pricing and earlier-stage indications, while Winrevair surged 75% on strong U.S. and international launch uptake.
Revenue
$16.61B
+5.07% YoY
EPS (Diluted)
-$0.54
-130.68% YoY
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