Merck’s Q4 2025 earnings call highlighted strong demand in oncology and cardiometabolic franchises, driven by Keytruda and animal health results, despite challenges in vaccine sales and margin declines. Analysts questioned management on topics including the ANCHOR trial timing, sac TMT development strategy, Keytruda patent runway, dual-regimen HIV therapies, and future growth guidance. Merck’s CEO defended the long-term outlook, citing a significant commercial opportunity and pipeline derisking by 2027.
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5 Revealing Analyst Questions From Merck's Q4 Earnings Call
Merck’s Q4 2025 earnings call highlighted strong demand in oncology and cardiometabolic franchises, driven by Keytruda and animal health results, despite challenges in vaccine sales and margin declines. Analysts questioned management on topics including the ANCHOR trial timing, sac TMT development strategy, Keytruda patent runway, dual-regimen HIV therapies, and future growth guidance. Merck’s CEO defended the long-term outlook, citing a significant commercial opportunity and pipeline derisking by 2027.