Merck (MRK) Research & Development (2009 - 2026)
Merck (MRK) posted Research & Development of $9.74 billion for Q2 2026, up 140.6% from $4.05 billion a year earlier but down 22.6% from the prior quarter.
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Analysis
Merck (MRK) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Merck was $30.45 billion, up 68.1% 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 (+226.1%), $5.5 billion in FY2023 (-59.4%), $13.55 billion in FY2022 (+10.6%) and $12.25 billion in FY2021 (-8.6%).
- Quarterly Research & Development has run from a low of $2.45 billion in Q3 2021 to a high of $13.32 billion in Q2 2023 over five years.
- On a year-over-year basis, Research & Development increased in four of the last eight quarters, with growth averaging 51.5%.
- 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 $12.59 billion (Q1 2026), $3.89 billion (Q4 2025) and $4.23 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.01 Bn | 563.54 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 465.23 Bn | 438.39 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 368.40 Bn | 322.83 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 278.02 Bn | 233.89 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 254.57 Bn | 228.13 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 229.02 Bn | 184.42 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 187.74 Bn | 161.85 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.45 Bn | 105.45 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Bristol Myers Squibb | 128.45 Bn | 79.72 Bn | 9.25 Bn | 2.96 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 |
| Sep 30, 2021 | 2.45 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();