The revenue of Merck & Co. increased in 2020, rising from 42.3 billion U.S. dollars in 2018 to approximately 48 billion U.S. dollars over the year. Sales of the company’s animal health products generated nearly 10 percent of total revenues.
Revenues lifted by sales of cancer treatments
The majority of Merck’s revenue comes from its pharmaceutical segment, which includes human health and vaccine products. The company’s oncology franchise, which is dedicated to the study of cancer, generated the most pharmaceutical revenue in 2020. Sales of Keytruda, a drug used to fight cancer, were particularly strong during the year – revenue increased by around 3.3 billion U.S. dollars between 2019 and 2020.
The importance of investing in innovation
Higher sales of vaccine products also contributed to the increase in Merck’s revenue in 2020, primarily driven by a 19 percent rise in sales of Gardasil/Gardasil 9, which can help in the prevention of certain cancers. Developing commercially successful products, such as Keytruda and Gardasil, is essential if Merck & Co. want to compete in the industry. The company continues to recognize the importance of research and development and has annually invested around ten billion U.S. dollars in the search for innovative medicines over the last few years, and an record high of 13.6 billion dollars of R&D spending in 2020.
Total revenue of Merck & Co. from 2006 to 2020
(in million U.S. dollars)
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Merck & Co.. (February 25, 2021). Total revenue of Merck & Co. from 2006 to 2020 (in million U.S. dollars) [Graph]. In Statista. Retrieved January 23, 2022, from https://www.statista.com/statistics/272350/revenue-of-merck-and-co/
Merck & Co.. "Total revenue of Merck & Co. from 2006 to 2020 (in million U.S. dollars)." Chart. February 25, 2021. Statista. Accessed January 23, 2022. https://www.statista.com/statistics/272350/revenue-of-merck-and-co/
Merck & Co.. (2021). Total revenue of Merck & Co. from 2006 to 2020 (in million U.S. dollars). Statista. Statista Inc.. Accessed: January 23, 2022. https://www.statista.com/statistics/272350/revenue-of-merck-and-co/
Merck & Co.. "Total Revenue of Merck & Co. from 2006 to 2020 (in Million U.S. Dollars)." Statista, Statista Inc., 25 Feb 2021, https://www.statista.com/statistics/272350/revenue-of-merck-and-co/
Merck & Co., Total revenue of Merck & Co. from 2006 to 2020 (in million U.S. dollars) Statista, https://www.statista.com/statistics/272350/revenue-of-merck-and-co/ (last visited January 23, 2022)
