Merck Pipeline Progress Drives Q2 Sales Growth Despite Deal Costs

Merck & Co., Inc. (MRK) has reported its second-quarter 2026 earnings, emphasizing faster pipeline progress and launch execution. The company's non-GAAP loss of 13 cents per share beat the consensus estimate of 26 cents.

The KEYTRUDA family generated $8.4 billion, up 4% excluding currency, driven by demand in earlier-stage and metastatic cancers. Newer products such as WINREVAIR added diversification, with sales rising 75% to $588 million, while WELIREG increased 67% to $271 million.

Chairman Robert Davis said physician and patient interest in newly approved LIPFENDRA was high, but reimbursement work will restrain the initial launch pace. Management is targeting undertreated patients rather than primarily switching users from injectable PCSK9 therapies.