Merck has split its Human Health division into two focused units: an Oncology Business Unit led by Jannie Oosthuizen and a Specialty, Pharma & Infectious Diseases Business Unit headed by Brian Foard. The split is designed to sharpen the company’s oncology focus around its flagship drug Keytruda while giving the non‑cancer portfolio a clearer identity and management structure.
Keytruda, which generated $31.7 billion in sales in 2025 and $8.4 billion in Q4 2025, is set to lose U.S. patent protection in 2028. By creating a dedicated oncology unit, Merck aims to maximize the remaining value of Keytruda and its related pipeline while accelerating launches in specialty and infectious disease areas.
Merck’s 2026 revenue guidance of $65.5 billion to $67.0 billion falls short of the $67.60 billion consensus, and the adjusted EPS guidance of $5.00 to $5.15 is below the $5.36 expectation. The guidance miss reflects a one‑time $3.65‑per‑share charge related to the Cidara acquisition, as well as broader headwinds such as pricing pressure and upcoming patent expirations for other products.
Robert M. Davis, Chairman and CEO, said: "Merck is pleased to welcome Brian Foard, an experienced executive with a proven track record of strategic leadership across specialty biopharma and commercial execution. As we advance our pipeline and drive commercial success across an increasingly diversified portfolio, including a growing pipeline across Specialty, Pharma & Infectious Diseases, we are sharpening our focus on delivering innovative medicines for patients and creating long‑term value for our stakeholders."
Brian Foard added: "I am honored to join Merck at such an important moment in its journey. Merck has a remarkable legacy of scientific leadership and a clear ambition to shape the future of medicine. Its commitment to patients, the strength of its pipeline, and the caliber of its people are truly inspiring. I look forward to working with the teams across Specialty, Pharma & Infectious Diseases to advance innovative solutions for patients and help unlock the next phase of growth for the company."
Merck’s Q4 2025 results, which included worldwide sales of $16.4 billion and adjusted EPS of $2.04, beat estimates of $16.19 billion and $2.01, respectively. The earnings beat was driven by strong demand for Keytruda and a favorable mix of high‑margin specialty products, offsetting the impact of the Cidara acquisition charge and modest pricing pressure in some legacy segments.
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