Merck (MRK) Research & Development (2009 - 2026)
Merck (MRK) posted quarterly Research & Development of $12.6 billion for Q1 2026, up 247.75% year-over-year from $3.6 billion in Q1 2025, and up 8294.67% quarter-over-quarter from $150.0 million in Q4 2025.
Merck (MRK) Research & Development (2009 - 2026) Analysis & Trends
Merck (MRK) has reported Research & Development for 18 consecutive years, with $12.6 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development rose 247.75% year-over-year to $12.6 billion; the TTM figure through Mar 2026 stood at $21.0 billion (up 19.68% YoY), while the FY2025 annual figure was $15.8 billion, down 11.98% from the prior year.
- Research & Development advanced to $12.6 billion in Q1 2026 per MRK's latest filing, from $150.0 million in the prior quarter.
- Across five years, Research & Development topped out at $13.3 billion in Q2 2023 and bottomed at $150.0 million in Q4 2025.
- Historically, Research & Development has averaged $4.9 billion across 5 years, with a median of $4.0 billion in 2025.
- Annual changes were most pronounced in 2023 — Research & Development jumped 376.09% — and 2025, when it plunged 96.73%.
- Merck's Research & Development stood at $3.8 billion in 2022, then jumped by 45.7% to $5.5 billion in 2023, then retreated by 16.65% to $4.6 billion in 2024, then slumped by 96.73% to $150.0 million in 2025, then jumped by 8294.67% to $12.6 billion in 2026.
- Business Quant data shows MRK's Research & Development at $12.6 billion in Q1 2026, $150.0 million in Q4 2025, and $4.2 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.88 Bn | 625.12 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 463.46 Bn | 456.89 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.92 Bn | 360.78 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 297.71 Bn | 290.02 Bn | 11.24 Bn | 2.85 Bn |
| 5 | Astrazeneca | 255.55 Bn | 250.65 Bn | 12.86 Bn | 4.05 Bn |
| 6 | Amgen | 234.52 Bn | 220.53 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 178.22 Bn | 175.04 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 158.57 Bn | 146.88 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Gsk | 105.32 Bn | 101.15 Bn | 8.24 Bn | -4.65 Bn |
| 10 | Sanofi | 54.20 Bn | 46.82 Bn | 10.79 Bn | -2.60 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 9.74 Bn |
| Mar 31, 2026 | 12.59 Bn |
| Dec 31, 2025 | 150.00 Mn |
| 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 |
| Sep 30, 2021 | 2.45 Bn |