Merck posts quarterly loss due to Cidara charge, sales rise 5%

Merck & Co

30/04/2026 11:30

By Deena Beasley

April 30 (Reuters) - Merck & Co MRK.N on Thursday reported a loss for the first quarter as an acquisition-related charge offset a 5% increase in product sales driven by cancer and respiratory drugs.

The U.S. drugmaker's first-quarter revenue rose to $16.3 billion from $15.5 billion a year earlier and was ahead of the average Wall Street estimate of $15.8 billion, as compiled by LSEG.

Merck's adjusted loss for the quarter, including a $3.62 per share charge for the acquisition of antiviral drug maker Cidara Therapeutics, was $1.28 a share, while analysts expected a loss of $1.51 a share.

For the full year, Merck narrowed its previous forecast range, pushing up the midpoint. The company said it now expects a 2026 profit of $5.04 to $5.16 per share on sales of $65.8 billion to $67 billion, compared with a previous estimate of $5.00 to $5.15 per share on sales of $65.5 billion to $67 billion.

Merck said the outlook does not reflect any impact from its planned acquisition of biotech Terns Pharmaceuticals TERN.O, which will result in a one-time charge of $2.35 per share.

Analysts have forecast Merck's 2026 profit at $5.12 per share on revenue of $66.6 billion.

Sales of blockbuster cancer immunotherapy Keytruda, the world's biggest-selling prescription medicine, rose 12% to $8 billion, beating analyst estimates of $7.6  billion. The total includes $128 million for a newer injected version of the drug, which had been available only as an infusion.

Sales of lung disease drug Winrevair rose 88% to $525 million, exceeding the $479 million expected by analysts.

Merck said sales of diabetes drug Januvia fell 28% to $574 million due to lower U.S. demand and pricing as well as generic competition in some international markets. Sales of human papillomavirus vaccine Gardasil fell 19% to $1.07 billion.

Animal health provided another bright spot for the company with sales in the quarter jumping 13% to $1.8 billion.

 (Reporting By Deena Beasley
Editing by Bill Berkrot)

 ((deena.beasley@thomsonreuters.com; 213 955 6746; Reuters Messaging: deena.beasley.thomsonreuters.com@reuters.net))