v3.25.4
Collaborative Arrangements (Tables)
 12 Months Ended
Dec. 31, 2025
Collaborative Arrangements [Abstract]  
Collaborative Arrangements
Summarized financial information related to this collaboration is as follows:
Years Ended December 31202520242023
Alliance revenue - Lynparza$1,450 $1,311 $1,199 
Alliance revenue - Koselugo (1)
436 170 97 
Total alliance revenue$1,886 $1,481 $1,296 
Cost of sales (2)
338 378 311 
Selling, general and administrative133 165 192 
Research and development36 77 79 
December 3120252024
Receivables from AstraZeneca included in Other current assets (3)
$451 $424 
Receivables from AstraZeneca included in Other assets (3)
125 — 
Payables to AstraZeneca included in Accrued and other current liabilities (4)
6 713 
(1)    Amounts in 2025 include the $150 million upfront payment and $175 million regulatory milestones triggered as a result of the amendment to the collaboration agreement noted above.
(2)    Represents amortization of capitalized milestone payments. Amount in 2024 includes $48 million of cumulative amortization catch-up expense as noted above.
(3)    Balance at December 31, 2025 includes milestone receivables.
(4)    Balance at December 31, 2024 includes accrued milestone payments.
Summarized financial information related to this collaboration is as follows:
Years Ended December 31202520242023
Alliance revenue - Lenvima$1,053 $1,010 $960 
Cost of sales (1)
241 241 381 
Selling, general and administrative134 159 189 
Research and development11 21 66 
December 3120252024
Receivables from Eisai included in Other current assets
$271 $257 
(1)     Represents amortization of capitalized milestone payments. Amount in 2023 includes $154 million of cumulative amortization catch-up expense as noted above.
Summarized financial information related to this collaboration is as follows:
Years Ended December 31202520242023
Alliance revenue - Adempas/Verquvo$470 $415 $367 
Net sales of Adempas recorded by Merck312 287 255 
Net sales of Verquvo recorded by Merck48 37 36 
Total sales$830 $739 $658 
Cost of sales (1)
256 244 224 
Selling, general and administrative97 111 131 
Research and development56 102 90 
December 3120252024
Receivables from Bayer included in Other current assets
$167 $160 
Payables to Bayer included in Accrued and other current liabilities
81 82 
(1)    Includes amortization of intangible assets, cost of products sold by Merck, as well as Bayer’s share of profits from sales in Merck’s marketing territories.
Summarized financial information related to this collaboration is as follows:
Years Ended December 31202520242023
Net sales of Lagevrio recorded by Merck
$380 $964 $1,428 
Cost of sales (1)
235 554 852 
Selling, general and administrative
54 57 97 
Research and development
31 13 60 
December 3120252024
Receivables from Ridgeback included in Other current assets
$27 $— 
Payables to Ridgeback included in Accrued and other current liabilities (2)
11 68 
(1)    Includes cost of products sold by Merck, Ridgeback’s share of profits, royalty expense, amortization of capitalized milestone payments, and inventory reserves.
(2)    Includes accrued royalties.
Summarized financial information related to this collaboration is as follows:
Years Ended December 31202520242023
Cost of sales (1)
$66 $— $— 
Selling, general and administrative
28 26 3 
Research and development (2)
524 351 5,549 
December 3120252024
Receivables from Daiichi Sankyo included in Other current assets
$15 $8 
Payables to Daiichi Sankyo included in Accrued and other current liabilities (3)
113 817 
(1)    Represents Merck’s share of certain inventory-related costs.
(2)    Expenses in 2023 include the $5.5 billion charge for the upfront and continuing option payments noted above.
(3)    Balance at December 31, 2024 includes accrued continuation payment.
Summarized financial information related to this collaboration is as follows:
Years Ended December 31202520242023
Selling, general and administrative
$27 $16 $5 
Research and development (1)
375 358 218 
December 3120252024
Payables to Moderna included in Accrued and other current liabilities
$13 $57 
(1)    Includes amortization of shared facility costs.