Merck Stock Hits Near 12-Month High on Keytruda Momentum

Merck & Co., Inc. (MRK) stock is trading near its 12-month high, thanks to strong second-quarter revenue growth and Keytruda's momentum in the oncology market.

The company's Q2 2026 earnings showed a 5.1% year-over-year revenue increase, beating analyst estimates of $16.37 billion. Merck's animal health division reported an 8% reported growth rate, outpacing the consolidated business's 5.1% growth.

Keytruda, Merck's flagship PD-1 cancer immunotherapy, is driving revenue momentum and margin resilience in the second half of 2026. The therapy has gained several label expansions through clinical trial success and continues to be a key driver of overall revenue growth.