The 4 drugs tracked here made $40.9B of Merck’s 2025 revenue (63%) and lose US exclusivity by 2028. Since 2023, Merck has closed 6 acquisitions of $1B or more, worth $39.4B in total. Products from those deals brought in $178M in 2025 (only from the closing date).
Bars are each drug's 2025 sales as a share of Merck’s total revenue ($65.0B). Only drugs tracked here are counted, so full exposure can be higher. Tap a bar for the drug's page.
| Closed | Company bought | Value | Area | What it brought | At closing |
|---|---|---|---|---|---|
| Jan 2023 | Imago BioSciencesMerck, January 2023 | $1.35B | Oncology | Bomedemstat, an oral drug for bone marrow cancers such as essential thrombocythemia | Pipeline only |
| Jun 2023 | Prometheus BiosciencesMerck, June 2023 | $10.8B | Immunology | Tulisokibart (MK-7240), an antibody for ulcerative colitis and Crohn's disease | Pipeline only |
| Jul 2024 | EyeBioMerck, May 2024 · Merck, July 2024 | $1.3B | Other | Restoret (MK-3000), an antibody for diabetic macular edema and wet AMDUpfront payment; up to $1.7B more in milestones. | Pipeline only |
| Oct 2025 | Verona PharmaMerck, October 2025 | $10.0B | Other | Ohtuvayre, an inhaled COPD maintenance treatment approved in 20242025 sales: Ohtuvayre $178M. From 7 October 2025 only. Merck FY2025 | Approved product |
| Jan 2026 | Cidara TherapeuticsMerck, January 2026 | $9.2B | Infectious disease | CD388, a long-acting antiviral to prevent flu in people at higher risk | Pipeline only |
| May 2026 | Terns PharmaceuticalsMerck, May 2026 | $6.7B | Oncology | TERN-701, an oral drug for chronic myeloid leukemia | Pipeline only |
| 6 counted | $39.4B | ||||
Acquisitions of whole companies closed since January 2023 with a headline price of $1B or more. Values are the price Merck announced, excluding milestone payments unless noted. Licensing deals are not included. Compare all 65 deals →
| Area | At risk by 2037 | Acquisitions since 2023 |
|---|---|---|
| Oncology | $33.1B | $8.05B |
| Other | – | $11.3B |
| Immunology | – | $10.8B |
| Infectious disease | – | $9.2B |
| Vaccines | $5.2B | – |
| Cardiometabolic | $2.5B | – |
Merck has the most revenue at risk in oncology, but has spent the most on acquisitions outside the main areas (EyeBio and Verona Pharma). At risk is 2025 sales of tracked drugs losing US exclusivity by 2037; acquisitions are the headline value of counted deals closed since 2023.
The two figures measure different things. Revenue at risk is what the drugs earned in 2025. A deal's value is what Merck paid, not the sales it will bring in. Only one of the 6 companies it bought was already selling an approved product at closing (Verona Pharma); the rest brought pipeline drugs whose sales are years away and may never arrive. The closest like-for-like figure is sales of the products Merck bought: $178M in 2025 (only from the closing date), against $40.9B of 2025 sales losing US exclusivity by 2037. So this page shows the figures side by side rather than claiming how much of the gap the deals fill.
Revenue: Merck FY2025. Drug sales and dates are sourced on each drug's page; each deal links to Merck’s announcement or filing in the table above.
See all 63 drugs on the patent cliff →Formycon and Zydus's FYB206 is the first publicly announced Keytruda biosimilar under FDA review; a decision is expected in Q3 2027. Merck's primary US compound patent expires in December 2028. Formycon and Zydus