The 3 drugs tracked here made $38.4B of Merck’s 2025 revenue (59%) and lose US exclusivity by 2028. Since 2023, Merck has closed 5 acquisitions of $1B or more, worth $38.0B in total.
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 |
|---|---|---|---|---|---|
| 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 2024 | 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 |
| 5 deals | $38.0B | ||||
Acquisitions of whole companies worth $1B or more, announced since January 2023. Values are the headline price Merck announced, excluding milestone payments unless noted. Licensing deals are not included.
| Area | At risk by 2037 | Acquisitions since 2023 |
|---|---|---|
| Oncology | $33.1B | $6.7B |
| Other | – | $11.3B |
| Immunology | – | $10.8B |
| Infectious disease | – | $9.2B |
| Vaccines | $5.2B | – |
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 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 5 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. So this page shows the two 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 45 drugs on the patent cliff →