By Fineline Cube 
Merck, Sharp & Dohme Inc. (MSD, NYSE: MRK) today announced its third‑quarter 2025 financial results, showing a 3 % year‑over‑year (YoY) increase in constant‑exchange‑rate sales to $17.30 billion. The company’s pharmaceutical segment grew 3 % to $15.60 billion, led by oncology, cardiovascular, and diabetes products, while vaccines, virology, and immunology sales declined.
Financial Highlights
- Total Sales – $17.30 B (+3 % YoY, constant‑rate)
- Pharmaceutical Sales – $15.60 B (+3 % YoY)
- Keytruda (pembrolizumab) – $8.10 B (+8 % YoY)
- GARDASIL/GARDASIL 9 – $1.70 B (‑25 % YoY, driven by China)
- Winrevair (sotatercept) – $360 M (+141 % YoY)
Segment Performance
| Segment | Q3 2025 | YoY % | Notes |
|---|---|---|---|
| Oncology | $7.50 B | +4 % | Keytruda sales up 8 % |
| Cardiovascular | $3.20 B | +5 % | |
| Diabetes | $2.80 B | +3 % | |
| Vaccines | $1.20 B | ‑10 % | China‑driven decline |
| Virology & Immunology | $0.90 B | ‑7 % |
Strategic Moves
- Manufacturing & R&D Investment – Break‑ground on a $3 B Center of Excellence for Pharmaceutical Manufacturing at its Elkton, Virginia site, reinforcing U.S. capacity.
- Verona Pharma Acquisition – Closed October 2025, adding Ohtuvayre (ensifentrine), a first‑in‑class FDA‑approved COPD maintenance therapy, to Merck’s cardio‑pulmonary portfolio.
- Product Pipeline – Continued focus on metastatic oncology indications and pulmonary arterial hypertension with Winrevair, which drove 141 % revenue growth in Q3.
Forward‑Looking Statements
This release contains forward‑looking statements that involve risks and uncertainties. Actual results may differ materially.-Fineline Info & Tech