Pharmaceutical Segment was Merck’s largest segment in fiscal 2025, bringing in $58.14B of $65.01B (89%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pharmaceutical Segment | $52.01B | $53.58B | $57.40B | $58.14B | |||||||||||||
| Segment One | — | — | — | — | |||||||||||||
| Primary Care & Women's Health | — | — | — | — | |||||||||||||
| Hospital & Specialty | — | — | — | — | |||||||||||||
| Diversified Brands | — | — | — | — | |||||||||||||
| Other Pharmaceutical | — | — | — | — | |||||||||||||
| Animal Health | $5.55B | $5.63B | $5.88B | $6.35B | |||||||||||||
| Vaccines | — | — | — | — | |||||||||||||
| Other Segments | — | — | — | — | |||||||||||||
| Other Segment | — | — | — | — | |||||||||||||
| All Other Segments | — | — | — | — | |||||||||||||
| Oncology | — | — | — | — | |||||||||||||
| Other | $1.73B | $907.00M | $891.00M | $515.00M | |||||||||||||
| Corporate, Non-Segment | — | — | — | — | |||||||||||||
| Unallocated Amount To | — | — | — | — | |||||||||||||
| Total | $59.28B | $60.12B | $64.17B | $65.01B |
Merck brought in $65.01B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 1.3% from $64.17B in fiscal 2024. Pharmaceutical Segment was the largest at $58.14B (89.4%), ahead of Animal Health at $6.35B (9.8%) and Other at $515.00M (0.8%).
Compared with fiscal 2024, Animal Health grew 8.1% to $6.35B and Pharmaceutical Segment grew 1.3% to $58.14B. From fiscal 2022 to 2025, combined revenue from these segments grew from $59.28B to $65.01B, a compound annual growth rate of 3.1%. Pharmaceutical Segment's share of the total rose from 87.7% to 89.4%.
United States was Merck’s largest region in fiscal 2025, bringing in $36.51B of $65.01B (56%).
| Geography | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $27.21B | $28.48B | $32.28B | $36.51B | |||||||||||
| Europe, Middle East & Africa | $14.49B | $13.25B | $14.04B | $14.58B | |||||||||||
| Europe, Middle East, & Africa | — | — | — | — | |||||||||||
| Europe Middle East & Africa | — | — | — | — | |||||||||||
| China | $5.19B | $6.80B | $5.49B | $1.94B | |||||||||||
| Japan | $3.63B | $3.16B | $3.28B | $2.71B | |||||||||||
| Asia Pacific (Other Than Japan & China) | — | $3.23B | $3.06B | $2.98B | |||||||||||
| Asia Pacific (Other Than China & Japan) | $3.61B | — | — | — | |||||||||||
| Asia Pacific | — | — | — | — | |||||||||||
| Latin America | $2.58B | $3.09B | $3.46B | $3.41B | |||||||||||
| Other | $2.57B | $2.10B | $2.56B | $2.88B | |||||||||||
| Total | $59.28B | $60.12B | $64.17B | $65.01B |
Merck brought in $65.01B from its seven regions in fiscal 2025, the year ended December 31, 2025. That was up 1.3% from $64.17B in fiscal 2024. United States was the largest at $36.51B (56.2%), ahead of Europe, Middle East & Africa at $14.58B (22.4%) and Latin America at $3.41B (5.2%). The other four regions brought in $10.51B combined.
Compared with fiscal 2024, United States grew fastest, up 13.1% to $36.51B, while China fell the most, down 64.7% to $1.94B.
Merck stopped reporting Asia Pacific (Other Than China & Japan) as a separate region after fiscal 2022, when it brought in $3.61B.
Keytruda was Merck’s largest product and service line in fiscal 2024, bringing in $29.48B of $64.17B (46%).
| Product and Service | FY 2016 | FY 2018 | FY 2019 | FY 2024 |
|---|---|---|---|---|
| Keytruda | $29.48B | |||
| Gardasil/Gardasil 9 | $8.58B | |||
| Other Pharmaceutical | $2.59B | |||
| Januvia | $1.33B | |||
| Livestock | $3.46B | |||
| Proquad/M-M-R Ii/Varivax | $2.49B | |||
| Janumet | $935.00M | |||
| Zetia | — | |||
| Companion Animal | $2.42B | |||
| Companion Animals | — | |||
| Bridion | $1.76B | |||
| Isentress/Isentress Hd | $394.00M | |||
| Lagevrio | $964.00M | |||
| Nuvaring | — | |||
| Vytorin | — | |||
| Singulair | — | |||
| Vaxneuvance | $808.00M | |||
| Simponi | $543.00M | |||
| Cubicin | — | |||
| Rotateq | $711.00M | |||
| Zostavax | — | |||
| Pneumovax 23 | $263.00M | |||
| Noxafil | — | |||
| Implanon/Nexplanon | — | |||
| Alliance Revenue - Lynparza | $1.31B | |||
| Remicade | $114.00M | |||
| Other | $891.00M | |||
| Emend | — | |||
| Alliance Revenue - Lenvima | $1.01B | |||
| Lenvima | — | |||
| Welireg | $509.00M | |||
| Zepatier | — | |||
| Cozaar/Hyzaar | — | |||
| Nasonex | — | |||
| Invanz | — | |||
| Dulera | — | |||
| Winrevair | $419.00M | |||
| Arcoxia | — | |||
| Cancidas | — | |||
| Alliance Revenue - Reblozyl | $371.00M | |||
| Prevymis | $785.00M | |||
| Dificid | $340.00M | |||
| Follistim Aq | — | |||
| Alliance Revenue - Adempas/Verquvo | $415.00M | |||
| Fosamax | — | |||
| Temodar | — | |||
| Primaxin | — | |||
| Delstrigo | $249.00M | |||
| Atozet | — | |||
| Vaqta | — | |||
| Belsomra | $222.00M | |||
| Adempas | $287.00M | |||
| Pifeltro | $163.00M | |||
| Zerbaxa | $252.00M | |||
| Alliance Revenue - Adempas (2) | — | |||
| Capvaxive | $97.00M | |||
| Total | $64.17B |
Merck brought in $64.17B from its 31 product and service lines in fiscal 2024, the year ended December 31, 2024. Keytruda was the largest at $29.48B (45.9%), ahead of Gardasil/Gardasil 9 at $8.58B (13.4%) and Livestock at $3.46B (5.4%). The other 28 lines brought in $22.64B combined.
Merck (MRK) reports its revenue by segment, by geography and by product and service. In fiscal 2025, Pharmaceutical Segment was its largest segment, bringing in $58.14B (89.4% of the total), followed by Animal Health at $6.35B (9.8%).
Pharmaceutical Segment was Merck's largest segment in fiscal 2025, bringing in $58.14B, or 89.4% of the $65.01B total across its three segments.
United States was Merck's largest region in fiscal 2025, bringing in $36.51B, or 56.2% of the $65.01B total across its seven regions.
Keytruda was Merck's largest product and service line in fiscal 2024, bringing in $29.48B, or 45.9% of the $64.17B total across its 31 product and service lines.
Animal Health grew faster than Pharmaceutical Segment in fiscal 2025, up 8.1% from $5.88B to $6.35B. Pharmaceutical Segment grew 1.3% to $58.14B.
Every figure comes from Merck's annual financial filings, as reported. Each line keeps the name Merck gives it, and years follow its fiscal calendar.
Merck's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.