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.
At the archive date, Merck & Co., Inc. was 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
$2.24
Revenue Estimate
$17.5B
Analyst consensus captured from Finnhub and Financial Modeling Prep. This archived preview is no longer updated with later results; see the MRK page for retained reports.
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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