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Merck & Co.’s Business Segments and Performance in 3Q17


Jan. 18 2018, Updated 5:30 p.m. ET

Merck’s 3Q17 revenue

Merck & Co.’s (MRK) product portfolio includes human pharmaceuticals as well as drugs for animal health. The company has segregated its business into two segments: Global Human Health—also referred to as Pharmaceuticals—and Animal Health.

The above chart compares the revenues for both segments over the last eight quarters. For 3Q17, Merck reported revenues of $10.3 billion, a 2% decline compared to 3Q16.

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The Pharmaceuticals segment includes revenues from sales of diabetes, oncology, women’s health, acute care, and vaccine products. The segment reported revenues of $9.2 billion in 3Q17, contributing more than 88% to Merck’s total revenues.

In 3Q17, revenues for the Pharmaceuticals segment fell ~3% due to lower sales of Zetia, Vytorin, Januvia, and Janumet, as well as Isentress and Gardasil. The decline in revenues was substantially offset by strong sales of Keytruda, Zepatier, Zostavax, Proquad/Varivax, and Pneumovax 23.

Animal Health segment

Merck’s Animal Health segment includes revenues from sales of animal health drugs and vaccines. The segment reported revenues of $1 billion in 3Q17.

In 3Q17, revenues for the Animal Health segment rose ~16%, including a 14% rise in revenues at constant exchange rates and a 2% favorable impact of foreign exchange. Growth in revenues was driven by the Bravecto portfolio, companion animal products, and the inclusion of revenues from the Vallee acquisition.

The iShares Global Healthcare (IXJ) holds 3.3% of its total investments in Merck (MRK), 4.5% in Pfizer (PFE), 8.1% in Johnson & Johnson (JNJ), and 4.7% in Novartis AG (NVS).


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