Merck's first quarter 2026 revenue grew 5% on KEYTRUDA strength, prompting a raise in full-year guidance.

Merck reported first quarter 2026 sales of $16.3 billion, a 5% increase year-over-year, driven by its Oncology and Animal Health divisions. The company posted a non-GAAP loss per share of $1.28, which was primarily attributable to a one-time charge of $3.62 per share for the acquisition of Cidara.

Key Highlights

• KEYTRUDA sales continued to be the primary growth driver, increasing 12% to $8.0 billion, fueled by higher global demand across multiple cancer indications.
• Strong performance was also seen in WINREVAIR, with sales growing 88% to $525 million, and in Animal Health, where sales rose 13% to $1.8 billion.
• Merck raised its full-year 2026 outlook, narrowing and raising the midpoint for both sales, now expected between $65.8 billion and $67.0 billion, and non-GAAP EPS, now forecast between $5.04 and $5.16.