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Keytruda Is Almost Half of Merck's Sales. What Happens When Its Patent Runs Out?
Oct 30, 2026
Keytruda made $31.7 billion in 2025, 49% of all of Merck's sales. Its primary US compound patent expires in December 2028, and Merck expects biosimilar competition to hurt Keytruda's sales materially between 2028 and 2029. When AbbVie's Humira met US biosimilars in January 2023, its sales fell from $21.2 billion in 2022 to $4.5 billion in 2025 (-79%). When Pfizer's Lipitor lost US exclusivity in November 2011, its sales fell from $9.6 billion that year to $2.3 billion in 2013 (-76%).
Merck & Co. MRK$149.52 +3.19 (+2.18%) at the close on Oct 30as of 2026-10-30 closeAbbVie ABBV$294.89 +4.10 (+1.41%) at the close on Oct 30as of 2026-10-30 closePfizer PFE$30.52 +0.57 (+1.90%) at the close on Oct 30as of 2026-10-30 close
Read the storyKeytruda Is Almost Half of Merck's Sales. What Happens After 2028?
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