Merck (MRK) Research & Development (2009 - 2026)
Merck (MRK) reported 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 18 years of Research & Development data on file, last reported at $12.6 billion in Q1 2026.
- Research & Development for Q1 2026 came in at $12.6 billion, up 247.75% year-over-year; the trailing twelve-month figure through Mar 2026 was $21.0 billion (up 19.68% YoY), and the FY2025 annual result was $15.8 billion, down 11.98% from the prior year.
- Research & Development improved to $12.6 billion in Q1 2026 per MRK's latest filing, from $150.0 million in the prior quarter.
- Over five years, Research & Development peaked at $13.3 billion in Q2 2023 and troughed at $150.0 million in Q4 2025.
- A 5-year average of $4.9 billion and a median of $4.0 billion in 2025 frame the typical range for Research & Development.
- The sharpest annual moves came in 2023 and 2025: Research & Development jumped 376.09% in 2023, then plunged 96.73% in 2025.
- A 5-year view of Research & Development shows it stood at $3.8 billion in 2022, then soared by 45.7% to $5.5 billion in 2023, then fell by 16.65% to $4.6 billion in 2024, then sank by 96.73% to $150.0 million in 2025, then soared 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 | Gsk | 92,316,836.42 Bn | 92,316,831.46 Bn | 7.76 Bn | -2.28 Bn |
| 2 | Eli Lilly | 983.57 Bn | 978.29 Bn | 16.22 Bn | 3.51 Bn |
| 3 | Johnson & Johnson | 553.56 Bn | 531.50 Bn | 15.96 Bn | 3.53 Bn |
| 4 | AbbVie | 383.35 Bn | 374.00 Bn | 10.78 Bn | 2.47 Bn |
| 5 | Merck | 281.71 Bn | 276.06 Bn | 12.09 Bn | 12.59 Bn |
| 6 | Amgen | 182.20 Bn | 170.16 Bn | 5.87 Bn | 1.72 Bn |
| 7 | Gilead Sciences | 153.71 Bn | 145.98 Bn | 5.52 Bn | 1.37 Bn |
| 8 | Pfizer | 143.75 Bn | 130.98 Bn | -1.21 Bn | 2.49 Bn |
| 9 | Bristol Myers Squibb | 109.71 Bn | 99.25 Bn | 8.07 Bn | 2.65 Bn |
| 10 | Novartis Ag | 108.28 Bn | 107.60 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 4.32 Bn |