Merck & Company, Inc. · NYSE:MRK
Merck & — JP Morgan Healthcare Conference 2025
20 slides from Merck &'s conference presentation, Jan 13, 2025
Slide 1: JP Morgan Healthcare Conference
JP Morgan Healthcare Conference January 13, 2025
Slide 2: Business and Pipeline Update
Business and Pipeline Update Rob Davis Chairman and Chief Executive Officer 2
Slide 3: Forward-looking statement of Merck & Co., Inc., Rahway, N.J., USA
Forward-looking statement of Merck & Co., Inc., Rahway, N.J., USA This presentation of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These state
Slide 4: Delivering on our key strategic priorities
Delivering on our key strategic priorities Advancing the pipeline to meet patient unmet need Executing on strategic business development to augment pipeline Achieving strong commercial and financial performance Creating long-term value for patients and shareholders 4
Slide 5: Sustaining strong track record of execution since 2021
Sustaining strong track record of execution since 2021 Strong underlying revenue growth1 +7% +12% +9% 2 2022 2023 2024 Total Revenue LAGEVRIO (ex-LAGEVRIO) 1. Growth rates represent annualized nominal growth, excluding LAGEVRIO sales 2. 2024 not actuals; 2024 value reflects the midpoint of guidance
Slide 6: Sustaining strong track record of execution since 2021
Sustaining strong track record of execution since 2021 Strong underlying revenue growth1 Nearly tripled number of assets in Phase 3 development3 26 +7% +12% +9% 9 2 2022 2023 2024 2021 2024 Total Revenue LAGEVRIO (ex-LAGEVRIO) 1. Growth rates represent annualized nominal growth, excluding LAGEVRIO s
Slide 7: Sustaining strong track record of execution since 2021
Sustaining strong track record of execution since 2021 Strong underlying revenue growth1 Nearly tripled number of assets in ~$40B invested in strategic Phase 3 development3 business development4 Completed in 2024 26 +7% +12% +9% 9 2 2022 2023 2024 2021 2024 Total Revenue LAGEVRIO (ex-LAGEVRIO) 1. Gr
Slide 8: Achieved notable regulatory and commercial milestones in 2024
Achieved notable regulatory and commercial milestones in 2024 Significant Approvals Key Positive Data Readouts Successful Ongoing Launches Cardiometabolic Cardiometabolic • WINREVAIR in PAH (STELLAR) • WINREVAIR (ZENITH) Vaccines Infectious Disease • CAPVAXIVE for pneumococcal • Clesrovimab for RSV
Slide 9: Building on momentum in 2025 to advance standard of care for patients
Building on momentum in 2025 to advance standard of care for patients Significant Potential Approvals & Launches Key Data Readouts Vaccines Cardiometabolic • GARDASIL male indication in China for ages 9 to 261 • Enlicitide decanoate (Oral PCSK9i) • WINREVAIR in PH due to LHD (Phase 2 CADENCE) Infect
Slide 10: Evolving to a more diversified commercial portfolio with robust Phase 3 development program
Evolving to a more diversified commercial portfolio with robust Phase 3 development program 2024-2025 2026-2027 2028+ MK-3000 patritumab deruxtecan1 bomedemstat MK-10844 Tetravalent tri-specific HER3 ADC LSD1i KRAS G12Ci antibody clesrovimab ifinatamab deruxtecan1 nemtabrutinib opevesostat5 RSV mAb
Slide 11: Executing commercially while advancing our diverse pipeline
Executing commercially while advancing our diverse pipeline Significant progress from 2021 to 2024 $48.7B $63.9B 1 Company revenue 9 26 Unique assets in Phase 3 development 36 52 Unique assets in Pre-clinical and Phase 1 11 1. 2024 not actuals; 2024 value reflects the midpoint of guidance issued on
Slide 12: Making significant progress in navigating KEYTRUDA LOE period
Making significant progress in navigating KEYTRUDA LOE period Significant progress from 2021 to 2024 Chart not to scale $48.7B $63.9B 1 Company revenue Outlook Today Revenue 9 26 Unique assets in Phase 3 development Outlook in 2021 / / 36 52 Time Unique assets in Pre-clinical and Phase 1 12 1. 2024
Slide 13: Expanding robust pipeline to drive patient impact and value creation into the mid-2030s
Expanding robust pipeline to drive patient impact and value creation into the mid-2030s Prior Opportunity1 Oncology >$20B Cardiometabolic ~$15B Immunology Multibillion 13 1. All dollar figures above are non-risk adjusted annual sales by the mid 2030s Refer to Appendix for detail of revenue opportuni
Slide 14: Expanding robust pipeline to drive patient impact and value creation into the mid-2030s
Expanding robust pipeline to drive patient impact and value creation into the mid-2030s Prior Opportunity1 Updated Opportunity1 Oncology >$20B >$25B Cardiometabolic ~$15B ~$15B Immunology Multibillion >$5B HIV Not provided >$5B Ophthalmology Not provided Multibillion 14 1. All dollar figures above a
Slide 15: Additional opportunities across portfolio, earlier phase pipeline and business development
Additional opportunities across portfolio, earlier phase pipeline and business development Updated Opportunity1 Infectious Disease / Vaccines Oncology >$25B + • Including clesrovimab, V181 and others Animal Health Cardiometabolic ~$15B • Expect revenue to more than double by the mid-2030s Immunology
Slide 16: Q&A
Q&A Rob Davis Chairman and Chief Executive Officer Dr. Dean Li President, Merck Research Laboratories
Slide 17: Appendix
Appendix MERCK =”
Slide 18: Key data readouts
Key data readouts 2025 2026-2027 2028+ clesrovimab MK-6194 bomedemstat nemtabrutinib bomedemstat opevesostat1 Monoclonal antibody IL-2 mutein LSD-1 inhibitor BTK inhibitor LSD-1 inhibitor CYP11A1 inhibitor RSV Vitiligo Essential Thrombocythemia Heme (CLL, SLL, RTL, MZL, MCL, FL, Heme (ET, Primary MF
Slide 19: Expanding robust pipeline to drive patient impact, long-term growth and value creation into the mid-2030s
Expanding robust pipeline to drive patient impact, long-term growth and value creation into the mid-2030s Prior Opportunity1 Updated Opportunity1 >$20B >$25B Oncology Includes TROP-22, ROR1, CYP11A1i3, LSD-1i, KRASi, BTKi, Now includes MK-6070 and reflects increased confidence in HER3, B7H3, CDH6 AD
Slide 20: Acronyms
Acronyms ADC – Antibody-drug conjugate HIF2α – Hypoxia-inducible factor–2α PARP – Poly-ADP ribose polymerase B7H3 – B7 homolog 3 HNSCC – Head and neck squamous cell carcinoma PCSK9 – Proprotein Convertase Subtilisin/Kexin Type 9 BTK – Bruton tyrosine kinase IL-2 – Interleukin-2 PCV – Pneumococcal co