Gardasil and Gardasil 9
Q2 2026 sales $1.17B, up 4%, after China demand collapsed in 2025.
The numbers
What it is
HPV vaccine that protects against cervical and other HPV-related cancers. Sales fell sharply in 2025 because demand in China dropped; Asia Pacific and Europe drove the 2026 recovery.
Why it matters to the stock. Gardasil was $8.6B of sales in 2024 and $5.2B in 2025, so it shows how exposed Merck is to China demand and vaccine policy outside the US.
News
Merck Q2 2026 sales rise 5% to $16.6B; 2026 EPS guidance cut to $2.66-2.76 on acquisition charges
Merck reported second-quarter 2026 sales of $16.61 billion, up 5% (4% excluding FX), with Keytruda and Keytruda Qlex at $8.37 billion.
Earnings
Merck Q1 2026 sales rise 5% to $16.3B; non-GAAP loss of $1.28 per share after Cidara charge; guidance raised
Merck reported first-quarter 2026 sales of $16.3 billion, up 5% (3% excluding currency), with Keytruda and Keytruda Qlex at $8.0 billion, up 12%.
Earnings