Merck said worldwide sales were $60.1 billion in 2023, an increase of 1% over 2022, or 4% excluding the unfavorable effect of foreign exchange. The company said the growth reflected gains in oncology, vaccines, hospital acute care and animal health, while virology, driven by lower Lagevrio sales, and diabetes declined.

1. 01

   Merck said worldwide sales were $60.1 billion in 2023, an increase of 1% over 2022, or 4% excluding the unfavorable effect of foreign exchange. The company said the growth reflected gains in oncology, vaccines, hospital acute care and animal health, while virology, driven by lower Lagevrio sales, and diabetes declined.

2. 02

   The company said Keytruda global sales grew 19% in 2023. It cited the worldwide launch of several new indications and continued uptake in existing indications as the drivers of higher demand.

3. 03

   Merck said it returned a total of $8.8 billion to shareholders in 2023, through dividends of $7.4 billion and share repurchases of $1.3 billion. On November 2023, its Board of Directors approved raising the quarterly dividend from $0.73 to $0.77 per share.

4. 04

   The company said that on August 2023, HHS announced through CMS that Januvia will be included in the first year of the IRA's Drug Price Negotiation Program, and that government price-setting will take effect on January 1, 2026. The company said it has sued the U.S. government over the program.

Key figures

Fiscal year ended December 31, 2023

Revenue

$60.1B

Net income

$365M

EPS

$0.14

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.