Merck & Co Inc

MRK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$118.00	Qhtj	Slclkcz

Merck's Wide Moat Is Supported by Leading Oncology Drug Keytruda and a Growing Pipeline

Karen Andersen

Sep 27, 2024

Business Strategy and Outlook

Merck's combination of a wide lineup of high-margin drugs and a pipeline of new drugs should ensure strong returns on invested capital over the long term. Further, following the divestment of the Organon business in June 2021, the remaining portfolio at Merck holds a higher percentage of drugs with strong patent protection. On the pipeline front, after several years of only moderate research and development productivity, Merck's drug development strategy is yielding important new drugs.

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