Merck (MRK) Research & Development (2009 - 2026)
Merck (MRK) posted Research & Development of $4.54 billion for Q3 2026, up 7.2% from $4.23 billion a year earlier but down 53.4% from the prior quarter.
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Analysis
Merck (MRK) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Research & Development at Merck was $30.76 billion, up 86.5% year-over-year; for FY2025, it came in at $15.79 billion, down 12.0% from FY2024.
- Annual Research & Development shows a five-year compound annual growth rate of 3.3% (FY2020 to FY2025).
- In prior years, Merck's Research & Development was $17.94 billion in FY2024, $13.55 billion in FY2022 (+10.6%) and $12.25 billion in FY2021 (-8.6%).
- Quarterly Research & Development has run from a low of $2.58 billion in Q1 2022 to a high of $13.32 billion in Q2 2023 over five years.
- On a year-over-year basis, Research & Development has increased in each of the last three quarters, with growth averaging 42.8% over the last eight quarters.
- The strongest year-over-year quarter for Research & Development in the past five years was Q2 2023, with growth of 376.1%; the weakest was Q2 2024, with a decline of 73.7%.
- According to Business Quant data, Research & Development for the three prior quarters was $9.74 billion (Q2 2026), $12.59 billion (Q1 2026) and $3.89 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,264.65 Bn | 1,238.27 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 677.74 Bn | 597.60 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 517.10 Bn | 485.11 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 362.23 Bn | 325.17 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 315.90 Bn | 276.16 Bn | 11.24 Bn | 2.85 Bn |
| 6 | Astrazeneca | 289.40 Bn | 266.24 Bn | 12.86 Bn | 4.05 Bn |
| 7 | Amgen | 249.90 Bn | 201.56 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 209.15 Bn | 184.26 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 165.88 Bn | 113.23 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Vertex Pharmaceuticals | 138.78 Bn | 110.77 Bn | 2.91 Bn | 1.32 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.54 Bn |
| Jun 30, 2026 | 9.74 Bn |
| Mar 31, 2026 | 12.59 Bn |
| Dec 31, 2025 | 3.89 Bn |
| Sep 30, 2025 | 4.23 Bn |
| Jun 30, 2025 | 4.05 Bn |
| Mar 31, 2025 | 3.62 Bn |
| Dec 31, 2024 | 4.58 Bn |
| Sep 30, 2024 | 5.86 Bn |
| Jun 30, 2024 | 3.50 Bn |
| Mar 31, 2024 | 3.99 Bn |
| Dec 31, 2023 | 5.50 Bn |
| Sep 30, 2023 | 3.31 Bn |
| Jun 30, 2023 | 13.32 Bn |
| Mar 31, 2023 | 4.28 Bn |
| Dec 31, 2022 | 3.78 Bn |
| Sep 30, 2022 | 4.40 Bn |
| Jun 30, 2022 | 2.80 Bn |
| Mar 31, 2022 | 2.58 Bn |
| Dec 31, 2021 | 3.07 Bn |
API Access
Merck Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=MRK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "MRK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=MRK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();