{
  "slug": "merck-co-inc",
  "symbol": "MRK",
  "name": "Merck & Company Inc",
  "fiscalYearEnd": "2025-12-31",
  "filing": {
    "accession": "0000310158-26-000063",
    "form": "10-K",
    "filed": "2026-02-24",
    "url": "https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm"
  },
  "model": "claude-haiku-5-5",
  "promptVersion": "2026-10-31.2",
  "generatedAt": "2026-10-31T19:57:09.078154+00:00",
  "segments": {
    "currency": "USD",
    "asOf": "2025-12-31",
    "total": 65011000000.0,
    "internal": null,
    "rows": [
      {
        "name": "Pharmaceutical",
        "revenue": 58142000000.0,
        "share": 90.1
      },
      {
        "name": "Animal Health",
        "revenue": 6354000000.0,
        "share": 9.9
      }
    ]
  },
  "sections": {
    "businessModel": [
      {
        "de": "Das Segment Pharmazie umfasst humanmedizinische Arzneimittel und Humanimpfstoffe.",
        "en": "The Pharmaceutical segment covers human medicines and human vaccines.",
        "quote": "The Pharmaceutical segment includes human health pharmaceutical and vaccine products."
      },
      {
        "de": "Humanmedizinische Arzneimittel sind Therapie- und Präventionsmittel zur Behandlung menschlicher Erkrankungen, die in der Regel verschreibungspflichtig verkauft werden.",
        "en": "Human health medicines are treatment and prevention drugs for human disorders, generally sold by prescription.",
        "quote": "Human health pharmaceutical products consist of therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders."
      },
      {
        "de": "Das Segment Animal Health stellt Tierarzneimittel und Impfstoffe her und vertreibt sie sowie Leistungen zur Gesundheitsführung für Nutz- und Heimtiere.",
        "en": "The Animal Health segment makes and sells veterinary medicines and vaccines, plus health management services, for disease control in livestock and companion animals.",
        "quote": "The Animal Health segment discovers, develops, manufactures and markets a wide range of veterinary pharmaceutical and vaccine products, as well as health management solutions and services, for the prevention, treatment and control of disease in all major livestock and companion animal species."
      },
      {
        "de": "Keytruda ist eine Therapie, die intravenös verabreicht wird.",
        "en": "Keytruda is a therapy given intravenously.",
        "quote": "Keytruda (pembrolizumab) is an anti-PD-1 (programmed death receptor-1) therapy available for intravenous administration"
      }
    ],
    "customers": [
      {
        "de": "Humanmedizinische Arzneimittel werden hauptsächlich an Arzneimittelgroßhändler und -einzelhändler, Krankenhäuser, staatliche Stellen und Managed-Care-Anbieter verkauft.",
        "en": "Human health medicines are sold mainly to drug wholesalers and retailers, hospitals, government agencies and managed health care providers.",
        "quote": "The Company sells these human health pharmaceutical products primarily to drug wholesalers and retailers, hospitals, government agencies, and managed health care providers such as health maintenance organizations, pharmacy benefit managers and other institutions."
      },
      {
        "de": "Humanimpfstoffe werden hauptsächlich an Ärzte, Großhändler, Distributoren und staatliche Stellen verkauft.",
        "en": "Human health vaccines are sold mainly to doctors, wholesalers, distributors and government bodies.",
        "quote": "Human health vaccines are sold primarily to physicians, wholesalers, distributors and government entities."
      },
      {
        "de": "Tiergesundheitsprodukte werden an Tierärzte, Distributoren, Tierproduzenten, Landwirte und Tierbesitzer verkauft.",
        "en": "Animal health products are sold to vets, distributors, animal producers, farmers and pet owners.",
        "quote": "The Company sells its animal health products to veterinarians, distributors, animal producers, farmers and pet owners."
      }
    ],
    "competition": [
      {
        "de": "Zu den Wettbewerbern zählen andere forschende Pharmaunternehmen, kleinere Forschungsunternehmen mit engerem Therapieschwerpunkt, Generikahersteller und Tiergesundheitsunternehmen.",
        "en": "Competitors include other research-based drug companies, smaller research firms with a narrower therapy focus, generic drug makers and animal health companies.",
        "quote": "The Company’s competitors include other worldwide research-based pharmaceutical companies, smaller research companies with more limited therapeutic focus, generic drug manufacturers, and animal health care companies."
      },
      {
        "de": "Der Wettbewerb im Tiergesundheitsgeschäft hängt unter anderem von Regulierung, technologischem Fortschritt, Produktinnovation sowie Qualität und Preis der Produkte ab.",
        "en": "Animal health competition depends on factors such as regulation, technological advances, product innovation, and the quality and price of products.",
        "quote": "The highly competitive animal health business is affected by several factors including regulatory and legislative issues, scientific and technological advances, product innovation, the quality and price of the Company’s products as well as competitors’ products"
      },
      {
        "de": "Der Wettbewerb im Pharmageschäft dreht sich um die Suche nach technologischen Neuerungen und deren wirksame Vermarktung.",
        "en": "Pharmaceutical competition involves searching for technological innovations and marketing them effectively.",
        "quote": "Pharmaceutical competition involves a rigorous search for technological innovations and the ability to market these innovations effectively."
      }
    ],
    "risks": [
      {
        "de": "Das Unternehmen erwartet, dass der Keytruda-Umsatz durch Biosimilar-Wettbewerb zwischen 2028 und 2029 erheblich belastet wird.",
        "en": "The company expects Keytruda sales to be materially hurt by biosimilar competition between 2028 and 2029.",
        "quote": "the Company expects that sales of Keytruda will be materially negatively impacted by biosimilar competition between 2028 and 2029."
      },
      {
        "de": "Im Jahr 2025 machte der Keytruda-Umsatz 49 % des Gesamtumsatzes des Unternehmens aus.",
        "en": "In 2025, Keytruda sales made up 49% of the company's total sales.",
        "quote": "In particular, in the aggregate, in 2025, sales of Keytruda represented 49% of the Company’s total sales."
      },
      {
        "de": "Der Umsatz der Bravecto-Produktfamilie betrug 2025 1,1 Milliarden US-Dollar, das waren 18 % des Umsatzes im Segment Animal Health.",
        "en": "Bravecto family sales were 1.1 billion dollars in 2025, which was 18% of Animal Health segment sales.",
        "quote": "In addition, in 2025, sales of the Bravecto family of products were $1.1 billion, which represented 18% of the Company’s Animal Health segment sales."
      },
      {
        "de": "Der Umsatz von Gardasil/Gardasil 9 in China ist 2025 deutlich gesunken, und das Unternehmen erwartet für 2026 keinen wesentlichen Anstieg.",
        "en": "Gardasil/Gardasil 9 sales in China fell significantly in 2025, and the company does not expect a material increase in 2026.",
        "quote": "The Company’s business in China experienced significantly lower sales of Gardasil/Gardasil 9 in 2025 and the Company expects that sales of Gardasil/Gardasil 9 in China will not materially increase in 2026."
      },
      {
        "de": "Bridion verliert den US-Marktschutz im Juli 2026, und das Unternehmen erwartet dort einen erheblichen und raschen Umsatzrückgang.",
        "en": "Bridion is set to lose US market exclusivity in July 2026, and the company expects a significant and rapid sales decline there.",
        "quote": "Bridion will lose market exclusivity in the U.S. in July 2026 at which time the Company anticipates a significant and rapid decline in U.S. sales of Bridion."
      }
    ]
  }
}