MSD announced 2025 first-half revenue of USD 31.3 billion, down 2% year-on-year, with pharmaceutical sales declining 3% to USD 27.7 billion. Keytruda (pembrolizumab) grew 7% to USD 15.2 billion, while HPV vaccine Gardasil/Gardasil 9 fell 48% to USD 2.5 billion due to reduced demand in China. The company launched a multi-year cost optimisation program targeting USD 3 billion in annual savings by 2027, including workforce reductions and manufacturing network streamlining.

New products showed strong performance, with pulmonary hypertension drug Winrevair (sotatercept) generating USD 615 million in its first full year and pneumococcal vaccine Capvaxive reaching USD 236 million. MSD expects full-year revenue between USD 64.3 billion and USD 65.3 billion, supported by recent approvals including an expanded indication for Gardasil 9 in Chinese males and oral PCSK9 inhibitor enlicitide decanoate's Phase III success.

According to PharmCube's NextBiopharm® database, MSD's pipeline has more projects in infection than any other area, although oncology has a similar number of candidates under development. Click here to request a free trial for NextBiopharm®.