Merck (NYSE: MRK) Q2 2026 Earnings Tuesday August 4 Beat Consensus With Revenue of $16.61 Billion (+5% YoY vs $16.36 Billion Consensus) Driven by Keytruda (Pembrolizumab) at $8.37 Billion (+5% YoY, Including $463 Million From the Newly-Launched Injectable Keytruda Formulation), Highlights the July 16, 2026 LIPFENDRA (Enlicitide) Oral Macrocyclic Peptide PCSK9 Inhibitor FDA Approval as the First Once-Daily Oral PCSK9 in the Class; Full-Year 2026 Revenue Guidance Raised to $66.3-67.3 Billion but Adjusted EPS Guidance Cut to $2.66-2.76 (Including a One-Time $5.7 Billion / $2.31 Per Share Charge Tied to the Terns Pharmaceuticals Acquisition)
Merck (NYSE: MRK) reported Q2 2026 earnings Tuesday August 4, 2026 before market open with quarterly revenue of $16.61 billion (+5% year-over-year), beating analyst consensus of $16.36 billion. Keytruda (pembrolizumab) generated $8.37 billion in Q2 sales (+5% YoY), exceeding analyst expectations of $8.27 billion; the total includes $463 million from the newly-launched more convenient injectable Keytruda formulation. Merck highlighted the July 16, 2026 LIPFENDRA (enlicitide) FDA approval as the first once-daily oral macrocyclic peptide PCSK9 inhibitor in the class, priced at $315 per month with peak sales potential of $5 billion by 2034. Full-year 2026 revenue guidance was raised to $66.3-67.3 billion from the prior $65.8-67 billion range, but adjusted EPS guidance was cut to $2.66-2.76 to reflect a one-time $5.7 billion ($2.31 per share) charge tied to the Terns Pharmaceuticals acquisition that closed in H1 2026. Merck shares rose 0.6% in early trading to $128.54. Broader pipeline highlights include continued growth of Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma), and Capvaxive (pneumococcal vaccine), plus the integration of Terns and Cidara acquisitions. Merck has beaten consensus in each of the trailing four quarters.