Merck & Co., Inc. is a global healthcare company that offers innovative health solutions through its prescription medications, including biologic therapies, vaccines, and animal health products. The company operates through two segments: Pharmaceutical and Animal Health. The Pharmaceutical segment focuses on human health pharmaceutical and vaccine products, targeting various human disorders and providing preventive care. These products are sold to drug wholesalers and retailers, hospitals, government agencies, and managed healthcare providers. The Animal Health segment focuses on discovering, developing, manufacturing, and marketing veterinary pharmaceutical and vaccine products, along with health management solutions and services, for livestock and companion animals. These products are sold to veterinarians, distributors, animal producers, farmers, and pet owners.

• Employees: 72,000 (as of December 31, 2023)
• Geographic Footprint: Operates globally
• Headquarters: Rahway, New Jersey
• Founded: Not specified in filing
• Number of locations/facilities: Multiple manufacturing and research facilities worldwide
• Revenue: $60.1 billion (FY2023)
• Market Cap: $292.9 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Merck Manufacturing Division, Merck Animal Health, Organon & Co. (spun off in 2021)

• CEO: Robert M. Davis (since December 2022)
• CFO: Caroline Litchfield (since April 2021)
• Board Chairman: Robert M. Davis (since December 2022)
• Other Key Executives: Sanat Chattopadhyay (Executive Vice President and President, Merck Manufacturing Division), Richard R. DeLuca, Jr. (Executive Vice President and President, Merck Animal Health), Cristal Downing (Executive Vice President and Chief Communications & Public Affairs Officer), Chirfi Guindo (Senior Vice President, Chief Marketing Officer, Human Health), Michael A. Klobuchar (Executive Vice President, Chief Strategy Officer), Dean Li (Executive Vice President, President, Merck Research Laboratories), Steven C. Mizell (Executive Vice President, Chief Human Resources Officer), Johannes J. Oosthuizen (Senior Vice President and President Merck U.S. Human Health), Joseph Romanelli (Senior Vice President and President MSD International Human Health), Dalton Smart (Senior Vice President Finance - Global Controller), David M. Williams (Executive Vice President, Chief Information and Digital Officer), Jennifer Zachary (Executive Vice President and General Counsel)

• Annual Revenue: $60.1 billion (FY2023)
• Net Income: $365 million (FY2023)
• Market Cap: $292.9 billion (as of June 30, 2023)
• Total Assets: $106.7 billion (FY2023)
• Number of employees: 72,000 (as of December 31, 2023)
• Key Financial Highlights: Sales increased 1% compared to FY2022, driven by growth in oncology, vaccines, hospital acute care, and animal health. Net income decreased significantly due to charges related to business development activities.

Merck offers a diverse range of human health pharmaceutical and vaccine products, as well as animal health products.

• Oncology: Keytruda (pembrolizumab), Lynparza (olaparib), Lenvima (lenvatinib), Welireg (belzutifan), Reblozyl (luspatercept-aamt)
• Vaccines: Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Vaxneuvance, Pneumovax 23, Vaqta
• Hospital Acute Care: Bridion (sugammadex), Prevymis (letermovir), Dificid (fidaxomicin), Zerbaxa (ceftolozane and tazobactam), Noxafil (posaconazole), Primaxin (imipenem and cilastatin)
• Cardiovascular: Adempas (riociguat), Verquvo (vericiguat)
• Virology: Lagevrio (molnupiravir), Isentress/Isentress HD (raltegravir)
• Neuroscience: Belsomra (suvorexant)
• Immunology: Simponi (golimumab), Remicade (infliximab)
• Diabetes: Januvia (sitagliptin), Janumet (sitagliptin/metformin HCI)
• Animal Health: Products for livestock and companion animals, including vaccines, parasiticides, and health management solutions.

Merck operates through two key business segments: Pharmaceutical and Animal Health.

• Pharmaceutical: $53.6 billion in revenue (FY2023)
• Animal Health: $5.6 billion in revenue (FY2023)

Merck's strategy focuses on leading-edge science and innovation in the development of new products and new uses for existing products. The company prioritizes research and development, focusing on breakthrough science for unmet medical needs. Merck is active in acquiring and marketing products through external alliances, such as licensing arrangements and collaborations. The company is also committed to expanding access to healthcare and ensuring its products are accessible and affordable. Merck's capital allocation strategy prioritizes investments in its business to drive near- and long-term growth, particularly in addressing unmet medical needs and supporting commercial opportunities. The company also remains committed to its dividend and pursuing external science and technologies through value-enhancing business development transactions.

Merck operates in the highly competitive and regulated global healthcare industry. Competitors include other worldwide research-based pharmaceutical companies, smaller research companies with a more limited therapeutic focus, generic drug manufacturers, and animal health companies. The industry is subject to various factors, including technological advances, industry consolidation, patent grants, new product introductions, and regulatory changes. The company is also subject to pricing pressures from managed care organizations, government agencies, and programs aimed at healthcare cost containment.

• Patent Protection: Dependence on patent rights for market exclusivity, risk of patent invalidation or circumvention.
• Product Dependence: Significant portion of profits and cash flow generated by key products, risk of adverse events affecting these markets.
• R&D Uncertainty: Research and development efforts may not yield commercially successful products, impacting ability to replace sales of products losing patent protection.
• Pricing Pressures: Continued pricing pressure from managed care organizations, government agencies, and programs aimed at healthcare cost containment.
• Competition: Intense competition from lower-cost generic products and competitors' products.