Merck & Co. R&D increased by 224.0% to $12.59B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 247.7%, from $3.62B to $12.59B. Over 4 years (FY 2021 to FY 2025), R&D shows an upward trend with a 6.6% CAGR.
Analysis
How to read this metric
Higher spending signals a commitment to innovation and future product launches, whereas significant cuts may indicate a shift toward short-term profitability.
Detailed definition
Research and development expenses represent the costs incurred to discover new products, improve existing technologies,...
Peer comparison
Highly comparable across pharmaceutical and medical device peers, where R&D intensity is a key metric for long-term valuation.
research_and_developmentHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.32B | $2.45B | $3.07B | $2.58B | $2.80B | $4.40B | $3.78B | $4.28B | $13.32B | $3.31B | $9.63B | $3.99B | $3.50B | $5.86B | $4.58B | $3.62B | $4.05B | $4.23B | $3.89B | $12.59B |
| QoQ Change | — | -43.4% | +25.5% | -16.0% | +8.6% | +57.2% | -14.2% | +13.3% | +211.5% | -75.2% | +191.1% | -58.5% | -12.3% | +67.5% | -21.8% | -21.0% | +11.8% | +4.6% | -8.2% | +224.0% |
| YoY Change | — | — | — | — | -35.2% | +79.9% | +23.0% | +66.0% | +376.1% | -24.8% | +155.0% | -6.6% | -73.7% | +77.3% | -52.4% | -9.3% | +15.7% | -27.8% | -15.2% | +247.7% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Animal Health | $91.00M | $95.00M | $109.00M | $95.00M | $110.00M | $118.00M | $125.00M | $112.00M |
| Pharmaceutical | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total | $3.50B | $5.86B | $4.58B | $3.62B | $4.05B | $4.23B | $3.89B | $12.59B |
Animal Health, Pharmaceutical were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
R&D at Other Companies
Frequently Asked Questions
- What is Merck & Co.'s r&d?
- Merck & Co. (MRK) reported r&d of $12.59B in Q1 2026.
- How has Merck & Co.'s r&d changed year-over-year?
- Merck & Co.'s r&d increased by 247.7% year-over-year, from $3.62B to $12.59B.
- What is the long-term trend for Merck & Co.'s r&d?
- Over 4 years (2021 to 2025), Merck & Co.'s r&d has grown at a 6.6% compound annual growth rate (CAGR), from $12.25B to $15.79B.
- What does r&d mean?
- The money spent on creating new products or improving existing ones to drive future growth.