Merck & Co (MRK) AGM 2026 summary

Opening remarks and agenda

• The CEO called the meeting to order, welcomed shareholders, outlined the virtual format and agenda, and introduced the board, confirming quorum.

• The agenda, proxy statement, and annual report were made available, with independent auditor representatives present.

• Emphasis was placed on a 135-year legacy of prioritizing patients and leveraging science to improve lives.

Financial performance review

• 2025 worldwide sales reached $65.0 billion, a 2% increase excluding foreign exchange, with non-GAAP EPS at $8.98, including $0.20 per share in business development charges.

• GAAP net income was $18.3 billion (+9%), and GAAP EPS was $7.28 (+10%).

• Non-GAAP net income was $22.5 billion (+18%), and non-GAAP EPS was $8.98 (+19%).

• Over $70 billion in potential commercial opportunity projected by the mid-2030s, up $20 billion from the prior year, driven by more than 20 growth drivers.

• Significant investments in R&D and manufacturing, with $80 billion in R&D and $12 billion in manufacturing from 2018–2024, and a commitment to invest $70 billion more over the next several years.

Board and executive committee updates

• All 13 board nominees were introduced and subsequently elected for terms expiring in 2027.

• Board policies on director service commitments and annual evaluations were discussed, emphasizing engagement and fiduciary responsibility.

• Executive team members listed included Robert M. Davis, Richard R. DeLuca Jr., Brian Foard, Chirfi Guindo, Betty Larson, Dean Y. Li, Caroline Litchfield, Dave Maraldo, Jannie Oosthuizen, Dave Williams, and Jennifer Zachary.