MSD
MSD (Merck & Co., Inc.) is a global pharmaceutical company developing, manufacturing, and distributing medicines, vaccines, and animal-health products across oncology, infectious disease, chronic disease, and livestock, anchored by the Keytruda and Gardasil franchises and serving providers, governments, and patients in more than 140 countries.
- Company typePublic
- Founded1891
- HeadquartersHaarlem, Netherlands
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What MSD does
MSD is the international trade name of Merck & Co., Inc., a US-headquartered global pharmaceutical company founded in 1891 and operating in the Netherlands since 1954. Its Dutch operations, anchored in Haarlem (production, packaging, and global distribution) plus Boxmeer and De Bilt (animal-health R&D and manufacturing), employ 5,000 people and supply medicines and vaccines to more than 140 countries, producing roughly 80 million vials and syringes of 10 vaccines annually from a mega-coldstore supported by 150,000 autonomous-vehicle trips per year.
The company's revenue model rests on three core streams: pharmaceutical product sales led by Keytruda (pembrolizumab, a PD-1 inhibitor that generated $31.7bn in global sales in 2025, ~49% of the $65bn group total); preventive vaccine sales, principally Gardasil for HPV and other vaccines distributed via government immunization programs (notably the India's nationwide HPV campaign targeting 1.15 crore girls through Gavi); and animal-health products (vaccines, the SenseHub cattle-monitoring platform, and Mectizan donation-stream products). Go-to-market is a hybrid of enterprise field sales to hospitals, oncologists and government health agencies, supplemented by DTC educational channels such as the DirectDocs TikTok/Instagram initiative and MSD Academy e-learning for healthcare professionals.
Strategically, MSD is realigning ahead of the 2028 Keytruda patent cliff through a February 2026 structural separation into an oncology division (Jannie Oosthuizen) and a non-oncology division (Brian Foard, ex-Sanofi), backed by ~$26bn in acquisitions (Verona Pharma, Cidara, Terns Pharma) and $2.2bn in AI-driven discovery alliances (Quotient, Mayo Clinic). MSD's AI/technology stack is genuinely differentiated at the drug-discovery layer (the company claims to have doubled its candidate pipeline and placed two AI-refined molecules in the clinic) and at the cold-chain logistics layer (outdoor AGVs, computer-controlled VNA cranes with 5mm accuracy, and CALM patient-side temperature sensors), though commercial AI products have not yet emerged.
MSD firmographics
Firmographics- Name
- MSD
- Legal name
- Merck & Co., Inc.
- Website
- https://msd.nl
- Company type
- Public
- Founded year
- 1891
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- MSD (Merck & Co., Inc.) is a global pharmaceutical company developing, manufacturing, and distributing medicines, vaccines, and animal-health products across oncology, infectious disease, chronic disease, and livestock, anchored by the Keytruda and Gardasil franchises and serving providers, governments, and patients in more than 140 countries.
- Ownership category
- akta.pro rank
MSD industry classification
Industry- Product category
- Pharmaceuticals
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Scientific Research and Development Services (5417)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)
- akta.pro primary industry
- Prophylactic Human Vaccines (routine, pediatric, adult) (HLAAAEAA)
- akta.pro secondary industries
- Clinical Development & Regulatory for Vaccines (trials, pharmacovigilance, lot release) (HLAAAEAK), Public & Private Vaccine Provider Networks (Clinics/Pharmacies/Physicians) (HLAJAHAB), Immunization & Vaccine Delivery Programs (BPADAIAB), Veterinary Vaccines (Biologics) (HLAMAEAL), Vaccine R&D, Clinical/Field Trials & Regulatory Affairs (HLAMAKAM)
Keywords
Where MSD is headquartered
LocationHeadquarters
- HQ city
- Haarlem
- HQ country
- Netherlands
- HQ region
- Europe
Offices4 records
Markets served
MSD business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Pharmaceutical Product Sales: MSD generates revenue primarily through global sales of branded pharmaceutical products including Keytruda (pembrolizumab) at $31.7bn annual sales and other oncology, infectious disease, and chronic disease medications.
- Vaccine Sales: MSD distributes approximately 190 million vaccine doses globally annually, including HPV vaccines (Gardasil) and other preventive vaccines.
- Animal Health Products: MSD Animal Health division develops, manufactures and distributes veterinary vaccines and medications globally.
- Licensing and Strategic Alliances: MSD generates revenue through strategic partnerships and licensing deals such as the $2.2bn alliance with Quotient and smaller co-development arrangements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Vaccines supplied to government health programs at negotiated rates |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
MSD product offering
Product offeringCore offering
MSD is a global biopharmaceutical company that develops, manufactures, and distributes prescription medicines, vaccines, and animal health products across oncology, infectious disease, chronic disease, and veterinary segments. Its flagship product is Keytruda (pembrolizumab), the world's top-selling cancer immunotherapy with $31.7 billion in global 2025 sales, supported by the Gardasil HPV vaccine franchise and a diversified pipeline. From its Dutch manufacturing base in Haarlem, MSD produces, packages, and distributes vaccines and medicines to more than 140 countries.
Product overview
MSD (known as Merck & Co outside the US and Canada) is a pharmaceutical company with a diversified portfolio spanning oncology, vaccines, infectious diseases, chronic diseases, and animal health. Core products include Keytruda (pembrolizumab), the world's top-selling cancer immunotherapy drug, and Gardasil, a leading HPV vaccine. The company operates through a platform-plus-acquisitions model, having completed major acquisitions including Verona Pharma ($10bn) and Cidara Therapeutics ($9.2bn) in 2025 to build its pipeline. MSD also offers specialized solutions like CALM for cold-chain medication adherence and SenseHub for livestock monitoring in its animal health division.
Differentiator
Problem solved
Functional benefit
Brands
- MSD Animal Health: Animal health division of MSD developing and manufacturing vaccines for animals
- MSD Academy
Products and services
- Keytruda (pembrolizumab) MSD's flagship PD-1 blocking antibody used as a cancer immunotherapy across multiple tumor types; the world's top-selling medication at $31.7bn in global sales in 2025, indicated for cancers including ovarian (combination therapy) and bladder.
- Gardasil / Gardasil-4 / Gardasil-9 HPV vaccines protecting against human papillomavirus strains 16, 18 and others to prevent cervical and other HPV-related cancers; supplied to India's national immunization program for 14-year-old girls through a Gavi partnership.
- Mectizan (ivermectin) Medication for the treatment and prevention of river blindness (onchocerciasis) and elephantiasis (lymphatic filariasis); MSD's Haarlem factory produces all tablets for the Mectizan Donation Program, with over 15 billion tablets produced to date.
- TERN-701 Oral BCR-ABL inhibitor in development for chronic myeloid leukemia, acquired through the Terns Pharma acquisition; positioned as a potential successor to Novartis' Scemblix.
- SenseHub Cattle monitoring system from MSD Animal Health that uses smart collars to monitor health, welfare, and fertility of cattle, with alerts for abnormal behavior related to rumination, feed intake, and heat detection.
- Verona Pharma respiratory portfolio Respiratory therapeutics acquired through MSD's $10 billion acquisition of Verona Pharma in 2025, intended to offset the revenue impact from the 2028 Keytruda patent cliff.
- Cidara Therapeutics portfolio Therapeutics acquired through MSD's $9.2 billion acquisition of Cidara Therapeutics in 2025 to strengthen MSD's pipeline ahead of Keytruda patent expiration.
- Quotient IBD alliance program Discovery program for new therapeutic targets in inflammatory bowel disease (ulcerative colitis and Crohn's disease) using Quotient's somatic genomics platform; MSD pays $20 million upfront plus milestones.
- Mayo Clinic AI drug discovery collaboration AI-augmented drug discovery collaboration between MSD and Mayo Clinic to accelerate development of new medicines.
- DirectDocs MSD Nederland initiative on TikTok and Instagram in which gynecologists provide short, medically accurate videos separating health facts from misinformation, with the first series focused on HPV and vaccination.
Quantifiable outcome
- 400,000+ patients treated with MSD oncology medicines in the past five years
- +4 more outcomes
Companies that use MSD
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles3 records
MSD technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature5 records
MSD partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered major, minor and core.
- Terns PharmamajorMSD acquired Terns Pharma for $6.7 billion all-cash ($53 per share, 31% premium). The acquisition provides MSD access to TERN-701 (oral BCR-ABL inhibitor for chronic myeloid leukemia) and additional metabolic and obesity drug candidates, strengthening the pipeline ahead of Keytruda's 2028 patent cliff.
- Quotient TherapeuticsmajorMSD entered a $2.2 billion alliance with Quotient Therapeutics to discover new therapeutic targets for inflammatory bowel disease. MSD pays $20 million upfront with additional development, regulatory, and commercial milestones. Quotient's somatic genomics platform identifies natural genetic variations linking genes to disease for conditions like ulcerative colitis and Crohn's disease. Quotient emerged from Flagship Pioneering and has previously partnered with Pfizer and GSK.
- WaivminorWaiv is a Paris-based AI precision oncology startup that partnered with MSD. Waiv's AI platform turns digital histopathology and multimodal clinical data into diagnostic tests for cancer care. Waiv maintains partnerships with global pharma companies including MSD.
- Verona PharmamajorMSD acquired Verona Pharma for approximately $10 billion in 2025 as part of strategy to replenish portfolio ahead of Keytruda patent expiration.
- Cidara TherapeuticsmajorMSD acquired Cidara Therapeutics for approximately $9.2 billion in 2025 to strengthen pipeline and offset revenue impact from patent expirations.
- Gavi (Vaccine Alliance)coreMSD supplies Gardasil-4 HPV vaccine to India's government vaccination program through Gavi partnership. India launched nationwide HPV vaccination campaign for 14-year-old girls targeting approximately 1.15 crore girls with single-dose WHO-approved vaccine.
- Mayo CliniccoreMSD and Mayo Clinic announced a collaboration on AI-driven drug discovery. The partnership aims to leverage AI capabilities to accelerate the development of new medicines.
- MYDAWA (Kenya)minorPartnership between MSD and MYDAWA in Kenya as part of the Investing in Innovation Africa (i3) initiative to improve healthcare access across Africa, specifically related to cervical cancer prevention.
- i3 (Investing in Innovation Africa)minori3 is a pan-African healthcare startup initiative funded by Bill & Melinda Gates Foundation. Three deals were announced including MSD and MYDAWA collaboration for healthcare access in Kenya.
Scale indicators20 records
Recent moves7 records
Expansion highlights6 records
MSD competitors and assessment
Company assessmentDirect peers
- Pfizer: Global pharmaceutical company with leading oncology, vaccines, and primary care franchises. Directly comparable to MSD across immuno-oncology, HPV/pneumococcal vaccines, and post-LOE pipeline replacement strategies.
- Bristol Myers Squibb: Major immuno-oncology competitor (Opdivo) and key direct rival to Keytruda. Comparable to MSD in oncology pipeline depth, LOE exposure on blockbuster IO assets, and post-2028 replacement strategy.
- Roche: Global pharmaceutical leader in oncology, diagnostics, and vaccines. Comparable to MSD as a top-tier oncology competitor (Tecentriq, Polivy), with similar biologic/vaccine manufacturing scale and post-LOE pipeline reinvestment model.
- Novartis: Major oncology and specialty pharma peer. Direct comparator in hematology (Scemblix, relevant to MSD's TERN-701 acquisition), targeted oncology, and radioligand therapy adjacencies to MSD's immuno-oncology core.
- AstraZeneca: Global biopharmaceutical company with a strong oncology franchise (Imfinzi, Tagrisso, Enhertu). Comparable to MSD in immuno-oncology competition, ADC platform investments, and aggressive M&A-driven pipeline replenishment.
- Johnson & Johnson Innovative Medicine: Diversified pharma peer with oncology, immunology, and vaccines. Comparable to MSD in hematology/oncology, infectious disease vaccines, and post-LOE portfolio renewal through bolt-on M&A.
- GSK: Global vaccines and specialty medicines leader. Direct competitor in HPV (Cervarix successor), shingles (Shingrix), and adult vaccines, with comparable public-sector vaccine supply relationships and global cold-chain requirements.
- Sanofi: European-based global pharma with vaccines (Fluzone, Beyfortus), specialty care, and rare disease franchises. Comparable to MSD in vaccines manufacturing scale, immunology pipeline, and post-blockbuster portfolio diversification.
- Eli Lilly: Major pharma peer competing with MSD in oncology, diabetes, and chronic disease. Comparable in M&A appetite, R&D scale, and pipeline productivity, though more concentrated in metabolic/obesity categories.
- Zoetis: Global leader in animal health pharmaceuticals and vaccines. Direct peer to MSD Animal Health across livestock and companion animal vaccines, parasiticides, and livestock monitoring technology adjacencies.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
MSD social profiles
Digital presenceMSD financial estimates
Financial estimateRevenue estimate
Valuation estimate
MSD leadership team
Management profileNumber of profiles
Profiles14 records
MSD subsidiaries and ownership
Company hierarchySubsidiaries1 record
MSD funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MSD M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MSD
What does MSD do?
MSD is a global biopharmaceutical company that develops, manufactures, and distributes prescription medicines, vaccines, and animal health products across oncology, infectious disease, chronic disease, and veterinary segments. Its flagship product is Keytruda (pembrolizumab), the world's top-selling cancer immunotherapy with $31.7 billion in global 2025 sales, supported by the Gardasil HPV vaccine franchise and a diversified pipeline. From its Dutch manufacturing base in Haarlem, MSD produces, packages, and distributes vaccines and medicines to more than 140 countries.
Is MSD a public or private company?
MSD is a public company. It is classified as public and is currently operating.
When was MSD founded?
MSD was founded in 1891. It employs 1,001 to 5,000 people.
Where is MSD based?
MSD is headquartered in Haarlem, Netherlands, in the Europe region.
How does MSD make money?
Four revenue lines are on record. Pharmaceutical Product Sales are the primary driver. The others are vaccine Sales, animal Health Products and licensing and Strategic Alliances.
Who are MSD's main competitors?
Direct peers on record are Pfizer, Bristol Myers Squibb, Roche, Novartis, AstraZeneca, Johnson & Johnson Innovative Medicine, GSK, Sanofi, Eli Lilly and Zoetis.
Does MSD have an API?
No public API is recorded for MSD.
What industry is MSD in?
MSD's product category is Pharmaceuticals. Its primary akta.pro industry code is HLAAAEAA, Prophylactic Human Vaccines (routine, pediatric, adult), with a secondary code of HLAAAEAK, Clinical Development & Regulatory for Vaccines (trials, pharmacovigilance, lot release). Its NAICS code is 325414 and its SIC code is 2836.