Merck & Co. · Earnings release · 8-K Exhibit 99

Exhibit

MERCK & CO., INC., RAHWAY, N.J., USA

CONSOLIDATED

STATEMENT OF OPERATIONS - GAAP

(AMOUNTS

IN MILLIONS, EXCEPT PER SHARE FIGURES)

(UNAUDITED)

Table

1a

% Change

1Q

1Q

2Q

3Q

4Q

Full Year

1Q

Sales

$

$

$

$

$

$

5

%

Costs, Expenses and Other

Cost of sales

%

Selling, general and administrative

6

%

Research and development

*

Restructuring costs

*

Other (income) expense, net

)

(7

)

)

*

(Loss) Income Before Taxes

)

*

Income Tax Provision

Net (Loss) Income

)

*

Less: Net (Loss) Income Attributable to Noncontrolling Interests

(3

)

6

1

2

(1

)

9

Net (Loss) Income Attributable to Merck & Co., Inc., Rahway, N.J., USA

$

)

$

$

$

$

$

*

(Loss) Earnings per Common Share Assuming Dilution (1)

$

)

$

$

$

$

$

*

Average Shares Outstanding Assuming Dilution (1)

Tax Rate

%

%

%

%

%

%

*

Sum

of quarterly amounts may not equal year-to-date amounts due to rounding.

(1) Because the Company recorded a net loss in the first quarter of 2026, no potential dilutive common shares were used in the computation of loss per common share assuming dilution as the effect would have been anti-dilutive.

MERCK & CO.,

INC., RAHWAY, N.J., USA

FIRST QUARTER

2025 GAAP TO NON-GAAP RECONCILIATION

(AMOUNTS IN MILLIONS,

EXCEPT PER SHARE FIGURES)

(UNAUDITED)

Table 2b

GAAP

Acquisition-and

Divestiture-Related

Costs (1)

Restructuring

Costs (2)

(Income) Loss

from

Investments

in Equity

Securities

Adjustment

Subtotal

Non-GAAP

First Quarter

Cost of sales

$

$

Selling, general and administrative

Research and development

7

7

Restructuring costs

–

Other (income) expense, net

)

(3

)

)

)

Income Before Taxes

)

)

)

Income Tax Provision (Benefit)

)(3)

)(3)

(3)

)

Net Income

)

)

)

Net Income Attributable to Merck & Co., Inc., Rahway, N.J., USA

)

)

)

Earnings per Common Share Assuming Dilution

$

)

)

)

$

Tax Rate

%

%

Only the line items that are affected

by non-GAAP adjustments are shown.

The Company is providing certain non-GAAP

information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business

performance and trends. Management believes that providing non-GAAP information enhances investors’ understanding of the Company’s

results because management uses non-GAAP measures to assess performance. Management uses non-GAAP measures internally for planning and

forecasting purposes and to measure the performance of the Company along with other metrics. In addition, annual employee compensation,

including senior management’s compensation, is derived in part using a non-GAAP pretax income metric. The non-GAAP information

presented should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.

(1) Amounts included in cost

of sales primarily reflect expenses for the amortization of intangible assets. Amounts included in selling, general and administrative

expenses reflect integration, transaction and certain other costs related to acquisitions and divestitures. Amounts included in research

and development expenses reflect the amortization of intangible assets.

(2) Amounts primarily include

employee separation costs, accelerated depreciation and asset impairments associated with facilities to be closed or divested related

to activities under the Company's formal restructuring programs.

(3) Represents the estimated

tax impacts on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.

MERCK & CO., INC., RAHWAY, N.J., USA

FRANCHISE / KEY PRODUCT SALES

(AMOUNTS IN MILLIONS)

(UNAUDITED)

Table 3a

Global

U.S.

International

% Change

% Change

% Change

TOTAL SALES (1)

$

$

5

$

$

8

$

$

2

PHARMACEUTICAL

5

7

2

Oncology

Keytruda

7

Keytruda Qlex

-

-

-

Alliance Revenue – Lynparza (2)

9

3

Alliance Revenue – Lenvima (2)

-1

-5

Welireg

*

Alliance Revenue – Reblozyl (3)

Vaccines (4)

Gardasil/Gardasil 9

ProQuad/M-M-R II/Varivax

0

-3

RotaTeq

0

Vaxneuvance

Capvaxive

1

*

Enflonsia

1

-

-1

-

3

-

Cardiometabolic & Respiratory

Winrevair

*

Ohtuvayre

-

-

Alliance Revenue - Adempas/Verquvo (5)

3

9

Adempas (6)

Infectious Diseases

Bridion

7

Prevymis

Zerbaxa

9

Delstrigo

Isentress/Isentress HD

Dificid

Lagevrio

Diabetes

Januvia

Janumet

5

Other Pharmaceutical (7)

-5

ANIMAL HEALTH

3

Livestock

9

Companion Animal

9

0

Other Revenues (8)

Sum of U.S. plus international may not equal global due to rounding.

(1)Only select products are shown.

(2)Alliance Revenue represents the Company's share of profits, which are product sales net of cost of sales and commercialization costs.

(3)Alliance Revenue represents royalties.

(4)Total Vaccines sales were $2,314 million and $2,607 million on a global basis in the first quarter of 2026 and 2025, respectively.

(5)Alliance Revenue represents the Company's share of profits from sales in Bayer's marketing territories, which are product sales net of

cost of sales and commercialization costs.

(6)Net product sales in the Company's marketing territories.

(7)Includes Pharmaceutical products not individually shown above. Also reflects total alliance revenue for Koselugo of $161 million and

$44 million on a global basis in the first quarter of 2026 and 2025, respectively.

(8)Other Revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues,

including revenue-hedging activities. Other Revenues related to the receipt of milestone payments for out-licensed products

MERCK & CO., INC., RAHWAY, N.J., USA

PHARMACEUTICAL GEOGRAPHIC SALES

(AMOUNTS IN MILLIONS)

(UNAUDITED)

Table 3b

% Change

1Q

1Q

2Q

3Q

4Q

Full Year

1Q

TOTAL PHARMACEUTICAL

$

$

$

$

$

$

5

United States

7

% Pharmaceutical Sales

%

%

%

%

%

%

Europe (1)

% Pharmaceutical Sales

%

%

%

%

%

%

Latin America

6

% Pharmaceutical Sales

%

%

%

%

%

%

Asia Pacific (other than China and Japan)

6

% Pharmaceutical Sales

%

%

%

%

%

%

Japan

% Pharmaceutical Sales

%

%

%

%

%

%

Eastern Europe/Middle East/Africa

-5

% Pharmaceutical Sales

%

%

%

%

%

%

China (2)

% Pharmaceutical Sales

%

%

%

%

%

%

Canada

9

% Pharmaceutical Sales

%

%

%

%

%

%

Other

% Pharmaceutical Sales

%

%

%

%

%

%

Sum of quarterly amounts may not equal year-to-date amounts due to rounding.

(1) Europe represents all European Union countries, the European Union accession markets and the United Kingdom.

(2)Gardasil/Gardasil 9 sales in China were $0 million and $193 million in the first quarter of 2026 and 2025, respectively.

MERCK & CO., INC., RAHWAY, N.J., USA

OTHER

(INCOME) EXPENSE, NET - GAAP

(AMOUNTS

IN MILLIONS)

(UNAUDITED)

Table

4

OTHER (INCOME) EXPENSE, NET

Interest income

$

)

$

)

Interest expense

Exchange losses

Income from investments in equity securities, net (1)

)

)

Net periodic defined benefit plan (credit) cost other than service cost

)

)

Other, net

)

)

Total

$

$

)

(1)Includes net realized and unrealized gains and losses from investments in equity securities either owned directly or through ownership

interests in investment funds. Unrealized gains and losses from investments that are directly owned are determined at the end of the

reporting period, while gains and losses from ownership interests in investment funds are accounted for on a one quarter lag.