Merck & Co., Inc. (MRK): restructuring charge — Merck reports Q2 2025 sales of $15.8B, down 2%, and announces $3B restructuring program

Merck & Co., Inc.

2025-Q2 EPS reported $3.77 revenue$31,335,000,000

Total worldwide sales $15.8 billion, down 2% nominally and ex-forex vs Q2 2024; KEYTRUDA sales $8.0 billion, up 9%.
GAAP EPS $1.76, Non-GAAP EPS $2.13; includes $0.07 per share charge for Hengrui Pharma license agreement.
GARDASIL/GARDASIL 9 sales $1.1 billion, decline of 55% primarily due to lower demand in China.
Approved 2025 Restructuring Program with cumulative pretax cost ~$3.0 billion, expected annual savings ~$1.7 billion by end of 2027.
Announced agreement to acquire Verona Pharma for ~$10 billion, adding COPD treatment Ohtuvayre; expected close Q4 2025.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Merck & Co., Inc. announced a restructuring with charges of approximately $3.0 billion affecting sales and administrative organizations, research and development, global real estate footprint, manufacturing network.

Type: restructuring
Charge: approximately $3.0 billion
Affected area: sales and administrative organizations, research and development, global real estate footprint, manufacturing network

Exact text from the filing

expected to be substantially completed by the end of 2029. The cumulative pretax costs to be incurred by the Company to implement the program are estimated to be approximately $3.0 billion, of which approximately 60% will be cash, relating primarily to employee separation expense and contractual termination costs. The remainder of the costs will be non-cash,

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Merck & Co., Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-071380

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