Merck (MRK) Research & Development (2009 - 2026)

Merck has disclosed Research & Development across 18 years of filings, most recently posting $12.6 billion for 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 grew to $12.6 billion in Q1 2026, from $150.0 million in the prior quarter.
• Over the last five years, Research & Development for MRK reached as high as $13.3 billion in Q2 2023 and fell as low as $150.0 million in Q4 2025.
• The 5-year median for Research & Development is $4.0 billion (2025), against an average of $4.9 billion.
• Annual changes were most pronounced in 2023 — Research & Development jumped 376.09% — and 2025, when it slumped 96.73%.
• 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 tumbled by 96.73% to $150.0 million in 2025, then soared by 8294.67% to $12.6 billion in 2026.
• According to Business Quant data, Research & Development over the past three periods registered $12.6 billion, $150.0 million, and $4.2 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.