Точка Синхронізації

American pharmaceutical giant Merck & Co. issued a financial forecast on Monday, predicting that its 2026 sales figures will fall below previous market estimates due to looming patent expirations and increased competition for its top-selling products. During a series of investor briefings, the New Jersey-based company projected revenues for 2026 to be significantly lower than the consensus from Wall Street analysts, citing the strategic transition period the firm faces as it prepares for the loss of exclusivity on key blockbuster drugs. The announcement serves as a proactive measure to manage investor expectations ahead of a period of significant structural shifts in the company's oncology and immunology portfolios. The primary driver behind this tempered outlook is the impending patent cliff for Merck’s flagship cancer immunotherapy, Keytruda, which currently accounts for a dominant portion of the company's annual revenue. As the drug approaches the end of its protected status in the United States and abroad, the market anticipates a surge in lower-cost biosimilars that will inevitably erode Merck's market share. To mitigate these losses, the company has been aggressively pursuing a strategy of diversification through internal research and development and strategic acquisitions, yet it admits that these new revenue streams may not bridge the financial gap as quickly as initially hoped. In addition to the loss of patent protection, Merck is facing pressure from new regulatory frameworks, including the U.S. Inflation Reduction Act, which allows the government to negotiate prices on high-expenditure drugs for Medicare patients. Executives noted that the combination of price negotiations and the entry of generic competitors creates a challenging landscape for maintaining historic growth rates. Despite the cautious 2026 forecast, Merck remains optimistic about its long-term pipeline, emphasizing its investment in subcutaneous formulations of Keytruda and its expanding vaccines division as essential pillars for recovery in the latter half of the decade.