MRK Merck & Co.

company

SEC Filings & Insider Trading Activity 2026

Business Overview

• • Global pharma/animal health company; Pharmaceutical segment (89% of sales) anchored by Keytruda immunotherapy franchise generating $31.7B in FY2025
• • Keytruda Qlex (subcutaneous pembrolizumab) launched in 2025; FDA-approved September 2025 across most adult solid tumor indications — new formulation extending franchise runway beyond 2028 Keytruda compound patent expiry
• • Gardasil revenue collapsed to $5.2B from $8.6B (-39% YoY) driven by China market contraction; Winrevair (PAH) debuted at $1.4B vs zero in 2024, partially offsetting Gardasil decline
• • ~75,000 employees globally as of Dec 31, 2025; US international sales mix shifted to 56% domestic / 44% international vs 50/50 in 2024, reflecting China Gardasil erosion
• • December 2025: Merck signed a "Most-Favored-Nation" agreement with the US government — committing to direct-to-patient pricing, Medicaid discounts, and MFN-linked launch pricing for new products in exchange for a 3-year Section 232 tariff delay on manufacturing imports

Management Discussion & Analysis

• • Revenue $65.0B in 2025, up 1% YoY (+2% ex-FX) from $64.2B; US sales +13% to $36.5B, international -11% to $28.5B
• • Gross margin 74.8% vs 76.3% in 2024; GAAP EPS $7.28 vs $6.74; non-GAAP EPS $8.98 vs $7.65
• • Best segment: Pharmaceutical (Keytruda/Keytruda Qlex $31.7B, +7%; Welireg +41%); worst: Vaccines, with Gardasil/Gardasil 9 -39% to $5.2B on China demand collapse
• • Operating cash flow $16.5B (vs $21.5B in 2024); capex $4.1B; dividends $8.2B; buybacks $5.1B (~59M shares); quarterly dividend raised to $0.85/share
• • Key risks: Keytruda IRA government price-setting effective 2029, Januvia/Janumet US exclusivity loss May/Jul 2026, $9.2B Cidara acquisition closing Jan 2026 with ~$9.0B R&D charge expected Q1 2026

Risk Factors

• • IRA price setting: Keytruda (49% of total 2025 sales) expected selected by HHS in 2027, government price effective Jan 1, 2029, U.S. sales to decline materially
• • Gardasil/Gardasil 9 China shipments paused since Feb 2025; local competitor's nine-valent HPV vaccine approved June 2025 for females 9-45 years
• • Keytruda biosimilar competition expected Dec 2028 when primary compound patent expires, with European market exclusivity lost 2031
• • Bridion loses U.S. exclusivity July 2026; Januvia/Janumet loses exclusivity May 2026; Company expects to lose "nearly all" U.S. Januvia/Janumet sales thereafter
• • IRS examining 2017-2018 tax returns including TCJA one-time transition tax position; adverse outcome described as potentially material to cash flows

What are the latest MRK SEC filings in 2026?

Merck & Co. (MRK) has filed a 10-K annual report on February 24, 2026, a 10-Q quarterly report on May 4, 2026, an 8-K current report on August 4, 2026 with the SEC. SignalX tracks every new SEC EDGAR filing daily, including 10-K, 10-Q, 8-K, and Form 4 insider transactions, with AI-powered summaries of key sections.

When did MRK file its most recent 10-K annual report?

Merck & Co. (MRK) filed its most recent 10-K annual report on February 24, 2026. The 10-K includes audited financial statements, business overview, risk factors, and management discussion, all available on SignalX with AI-generated summaries and XBRL financial data.

How do I view MRK 10-Q quarterly reports?

Merck & Co. (MRK)'s most recent 10-Q quarterly report was filed on May 4, 2026. SignalX displays every MRK 10-Q with AI-generated summaries of the MD&A (Management Discussion & Analysis) and Risk Factors sections, plus links to the original SEC EDGAR document.

What 8-K current reports has MRK filed recently?

Merck & Co. (MRK)'s most recent 8-K was filed on August 4, 2026. 8-K filings disclose material corporate events such as earnings releases, executive changes, mergers, and other significant developments. SignalX surfaces each 8-K with item-level summaries so you can quickly see what happened.

Where can I find MRK insider trading activity (Form 4)?

SignalX aggregates every MRK Form 4 insider transaction from SEC EDGAR. Form 4 reports show when officers, directors, and 10% shareholders buy or sell company stock, with transaction code, share count, and price per share.

How often does MRK file with the SEC?

Merck & Co. (MRK) files a 10-K annual report once per year (typically within 60 days of fiscal year-end) and 10-Q quarterly reports three times per year. 8-K current reports are filed as needed when material events occur, and Form 4 insider transaction reports are due within two business days of a trade. SignalX monitors SEC EDGAR daily to surface every new MRK filing with AI-powered analysis.

What is the difference between 10-K, 10-Q, and 8-K SEC filings?

A 10-K is a comprehensive annual report with audited financials, business overview, and risk factors. A 10-Q is a shorter quarterly report with unaudited financials and management discussion. An 8-K is a current report filed when a material event occurs, such as earnings releases, executive changes, acquisitions, or other significant developments. SignalX provides AI-generated summaries for all three filing types for Merck & Co. (MRK).

What is MRK's SEC CIK number?

Merck & Co. (MRK)'s SEC CIK (Central Index Key) number is 310158. The CIK is a unique identifier assigned by the SEC to every filing entity. You can use CIK 310158 to look up all MRK filings on SEC EDGAR, or browse them here on SignalX with AI-powered analysis.

Where can I find MRK return on equity (ROE) and financial data?

SignalX extracts XBRL financial data from Merck & Co. (MRK) 10-K annual filings, including revenue, net income, gross profit, operating income, EPS, total assets, stockholders' equity, and operating cash flow. Return on equity (ROE) can be derived from net income divided by stockholders' equity. Multi-year financial trends are displayed in the Financial Summary table above.