Merck & Company, Inc. · NYSE:MRK
Merck & — International AIDS Conference (AIDS 2026) Investor Event
34 slides from Merck &'s conference presentation, Aug 3, 2026
Slide 1: International AIDS Conference Investor Event
International AIDS Conference Investor Event Merck & Co., Inc., Rahway, N.J., USA August 3, 2026
Slide 2: 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 3: Agenda
Strategy Overview | Dr. Eliav Barr SVP, Head of Global Clinical Development & Chief Medical Officer AIDS 2026 Data Updates | Dr. Liz Rhee Agenda VP, Clinical Research, Infectious Disease Commercial Opportunity | Brian Foard EVP & President, Specialty, Pharma & Infectious Diseases Q&A | All + Gregg S
Slide 4: Strategy Overview
Strategy Overview Dr. Eliav Barr Senior Vice President, Head of Global Clinical Development & Chief Medical Officer 4
Slide 5: Nearly 40 million people are living with HIV worldwide, more than a million diagnosed every year
Nearly 40 million people are living with HIV worldwide, more than a million people are diagnosed every year Current State1 UNAIDS 2030 Goals 40M Only 73% of people living with HIV are virally 95% 95% 95% People living suppressed Diagnosed with HIV People living with HIV People living with HIV with H
Slide 6: Progressing next wave of HIV innovation to provide new oral options for treatment and PrEP
Progressing next wave of HIV innovation to provide new oral options for treatment and PrEP Phase 1 Phase 2 Phase 3 Filed Approved Today APPROVED — U.S. approval in certain adults with suppressed virus Regulatory submissions ongoing for Daily Oral Treatment treatment naïve adult population ISL LEN1 P
Slide 7: AIDS 2026 Data Updates
AIDS 2026 Data Updates Dr. Liz Rhee Vice President, Clinical Research, Infectious Disease 7
Slide 8: Compelling data at AIDS 2026 support potential to bring innovative weekly oral treatment options
Compelling data at AIDS 2026 support potential to bring innovative weekly oral treatment options to people living with HIV Evolution of oral HIV treatment New data presented at AIDS 2026 ISL LEN1 Phase 3 study vs B/F/TAF Phase 3 study vs other daily oral antiretroviral regimens 1996 2006 Soon 16 pil
Slide 9: ISLEND-1 evaluated efficacy and safety of switching to once-weekly islatravir/lenacapavir from B/F/TAF
ISLEND-1 evaluated efficacy and safety of switching to once- weekly islatravir/lenacapavir from B/F/TAF Phase 3 double-blind, active-controlled noninferiority study vs daily oral B/F/TAF ISL/LEN 2/300 mg QW (n = 304) 3 Open-label extension phase Eligibility Criteria: Total QD Placebo • Age ≥ 18 year
Slide 10: ISLEND-1 provides strong evidence for potential first approval of a once-weekly oral treatment regimen
ISLEND-1 provides strong evidence for potential first approval of a once-weekly oral treatment regimen Primary Secondary endpoint endpoint 100 • ISL/LEN demonstrated non-inferior 93.4 92.4 efficacy compared to once-daily B/F/TAF 80 • Maintained high rates of virologic suppression (93%) at Week 48 Pa
Slide 11: ISLEND-2 evaluated efficacy and safety of switching to once-weekly ISL/LEN from diverse daily oral regimens
ISLEND-2 evaluated efficacy and safety of switching to once- weekly ISL/LEN from diverse daily oral regimens Phase 3 open-label, active-controlled noninferiority study vs daily oral standard of care2 Extension phase Eligibility Criteria: ISL/LEN 2/300 mg QW (n = 314) 3 Total • Age ≥ 18 years randomi
Slide 12: High rates of virologic suppression and high barrier to resistance shown in ISLEND-2
High rates of virologic suppression and high barrier to resistance shown in ISLEND-2 Primary Secondary endpoint endpoint 100 95.2 95.5 • ISL/LEN was noninferior to daily SOC 80 • Maintained high rates of virologic suppression (95%) at Week 48 Participants, % 60 • No emergent resistance to ISL or LEN
Slide 13: Strong participant preference for once-weekly ISL/LEN shown in ISLEND-2 exploratory analysis
Strong participant preference for once-weekly ISL/LEN shown in ISLEND-2 exploratory analysis More Satisfied With Regimen1 Regimen Less of a Burden1 62.4 63.7 Participants, % Participants, % 30.3 15.6 14.0 1.0 1.6 0.6 Much More More Satisfied Similarly More Satisfied Much More SOC More of a ISL/LEN a
Slide 14: Safety and tolerability profile of once weekly ISL/LEN comparable to once-daily B/F/TAF and standard of care
Safety and tolerability profile of once weekly ISL/LEN comparable to once-daily B/F/TAF and standard of care • Safety profile of once-weekly oral ISL/LEN was generally similar to the comparator regimens studied in the ISLEND trials, and no new safety concerns were identified1 • No clinically meaning
Slide 15: Results support potential for ISL/LEN to be first once-weekly oral single-tablet regimen
Results support potential for ISL/LEN to be first once-weekly oral single- tablet regimen for treatment for adults with virologically suppressed HIV High virologic No resistance Comparable safety Satisfaction suppression detected ≥93.0% with HIV-1 Zero treatment- Safety and tolerability Favorable pa
Slide 16: Advancing multiple potential once-weekly treatment options
Advancing multiple potential once-weekly treatment options ISL LEN1 ISL ULO Next-generation NRTI / Capsid Next-generation NRTI / NNRTI inhibitor Positive Phase 3 data in development for Positive Phase 2b data in development for adults adults PLWH with suppressed virus and PLWH with suppressed virus
Slide 17: Islatravir + ulonivirine Phase 2b trial showed maintenance of viral suppression compared to B/F/TAF at Week 24
Islatravir + ulonivirine Phase 2b trial showed maintenance of viral suppression compared to B/F/TAF at Week 24 Virologic outcomes (FDA snapshot approach) • ISL 2 mg + ULO 200 mg once-weekly -2.6% (-10.3, 4.3) maintained viral suppression through 77 Week 24 74 100 (94.9%) (97.5%) • Efficacy comparabl
Slide 18: ISL+ULO demonstrated a favorable safety and tolerability profile
ISL+ULO demonstrated a favorable safety and tolerability profile ISL+ULO B/F/TAF • Switching to ISL+ULO was generally QW QD well tolerated, and no safety Participants with AEs, n (%) N = 78 N = 79 concerns were identified One or more AEs 43 (55.1) 44 (55.7) • AE profile was comparable to Drug-relate
Slide 19: Plan to initiate Phase 3 program to evaluate ISL/ULO
Plan to initiate Phase 3 program to evaluate ISL/ULO in adults who are virologically suppressed and those who are new to treatment SYMPHORIA No. 1 SYMPHORIA No. 2 SYMPHORIA No. 3 Phase Phase 3 Phase 3 Phase 2/3 study Blinded, active- Open-label (Phase 2) Design Open-label study controlled study Doub
Slide 20: Commercial Opportunity
Commercial Opportunity Brian Foard Executive Vice President & President, Specialty, Pharma & Infectious Diseases 21
Slide 21: Large, persistent gaps in HIV treatment and prevention landscape create durable demand
Large, persistent gaps in HIV treatment and prevention landscape create durable demand Treatment Prevention Aging population Experience >70% of people living with HIV in U.S. projected to be Uptake and persistence hurdles have potential to limit age 50+ by 2030, with growing comorbidity and real-wor
Slide 22: IDVYNSO marks beginning of broader portfolio strategy for people living with or at risk of HIV
IDVYNSO marks beginning of broader portfolio strategy designed to address evolving needs of people living with or at risk of HIV Establish IDVYNSO Advance novel once-weekly Innovate in PrEP in the switch market treatment options First and only non-InSTI 2-drug Offer less frequent oral long-acting Fa
Slide 23: Weekly oral treatments offer less frequent dosing
Weekly oral treatments offer less frequent dosing Unmet Need Oral Weekly Opportunity • Treatment fatigue: 33% report stress • Less frequent dosing: 86% reduction in with daily dosing schedule 1 annual pill burden • Stigma: 58% have ever hid or disguised • Satisfaction higher with QW oral: In their H
Slide 24: Alimatravir has potential to be first monthly oral PrEP option
Alimatravir has potential to be first monthly oral PrEP option Alimatravir has potential to provide: Commitment to access • Fast onset of protection – predicted within 1 • Innovative pre-approval voluntary license hour for a month of protection from HIV1 agreements to enable rapid access in low- and
Slide 25: >$5B opportunity by the mid-2030s from new and potential launches
>$5B opportunity by the mid-2030s from new and potential launches >$5B Commercial opportunity Alimatravir Monthly Oral PrEP Phase 3 ongoing ISL ULO PCD 2027 by the mid-2030s1 Potential first long-acting Weekly Oral Treatment Two-Drug Regimen oral PrEP approval Advancing to Phase 3 Potential to expan
Slide 26: Q&A
Q&A Dr. Eliav Barr Dr. Liz Rhee Brian Foard SVP, Head of Global VP, Clinical Research, EVP & President, Clinical Development Infectious Disease Specialty, Pharma & & Chief Medical Infectious Diseases Officer Gregg Szabo Peter Dannenbaum SVP, Integrated SVP, Investor Relations Global HIV Franchise 27
Slide 27: Appendix
Appendix 28
Slide 28: ISLEND-1: Safety Profile Overview
ISLEND-1: Safety Profile Overview ISL/LEN QW B/F/TAF QD Participants, n (%) (n = 304) (n = 303) Any AE 241 (79) 238 (79) Grade ≥ 3 22 (7) 22 (7) Treatment-related AEs 41 (13) 40 (13) Most common treatment-related AEs (≥ 2% in the ISL/LEN group) 9 (3) 10 (3) Nausea 9 (3) 8 (3) Headache 6 (2) 0 Dizzin
Slide 29: ISLEND-2: Safety Profile Overview
ISLEND-2: Safety Profile Overview ISL/LEN QW Daily SOC Participants, n (%) (n = 314) (n = 312) Any AE 249 (79) 241 (77) Grade ≥ 3 24 (8) 28 (9) Treatment-related AEs 58 (18) 1 (< 1) Grade ≥ 3 0 0 Most common (≥ 2% in the ISL/LEN group) Headache 15 (5) 0 Diarrhea 10 (3) 0 Nausea 9 (3) 0 Serious AEs 2
Slide 30: Acronyms & Abbreviations
Acronyms & Abbreviations AEs = Adverse events NNRTI = Non-nucleoside reverse transcriptase inhibitor ART = Antiretroviral therapy PCD = Primary Completion Date ARV = Antiretroviral PI = Protease Inhibitor B/F/TAF = bictegravir/emtricitabine/tenofovir alafenamide PLWH = People living with HIV CNS = C
Slide 31: Eliav Barr, MD
Eliav Barr, MD Senior Vice President, Head of Global Clinical Development, Chief Medical Officer Dr. Eliav Barr is senior vice president and head of Global Clinical Development and Chief Medical Officer at Merck Research Laboratories. He leads all late-stage clinical development for Merck’s human he
Slide 32: Liz Rhee, MD
Liz Rhee, MD Vice President, Clinical Research, Infectious Disease Dr. Elizabeth (Liz) Rhee is vice president and therapeutic area head of Infectious Disease Clinical Research in Global Clinical Development at Merck Research Laboratories. She leads the late-stage development of infectious disease pi
Slide 33: Brian Foard
Brian Foard EVP & President, Specialty, Pharma & Infectious Diseases Brian Foard is executive vice president and president, Specialty, Pharma & Infectious Diseases for Merck. He oversees a portfolio of growth drivers across cardiometabolic and respiratory, infectious diseases, immunology, and ophtha
Slide 34: Gregg Szabo
Gregg Szabo SVP, Integrated Global HIV Franchise Gregg Szabo is currently senior vice president, Integrated Global HIV Franchise, leading global strategy and U.S. execution for Merck’s increasingly broad portfolio and pipeline of antiretrovirals for both human immunodeficiency virus (HIV) treatment
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