A：Merck's progress includes the use of their leading science to save and improve lives worldwide, delivering value to patients and customers through innovative medicines and vaccines, making important investments in their diverse pipeline with about 80 phase 3 trials, and having over $10 billion in revenue opportunities by the mid-2030s.

A：Merck completed the strategic acquisition of a company with multi-billion-dollar commercial potential, which is a significant pipeline advancement. They have also announced investments in manufacturing in the US, including a groundbreaking event at their Virginia site and plans for investment of more than $70 billion to expand domestic manufacturing and R&D.

A：In oncology, Keytruda sales increased 8%, driven by robust uptake in earlier stage cancers and combination therapies. In cardiovascular therapy, WRAAE sales grew strongly with over 24,000 total prescriptions dispensed in the quarter, supported by new patient starts and a good start in Japan.

A：Strategic business developments and global investments by Merck are translating into positive clinical results and successful new product launches, which are improving the company's portfolio diversification and setting the stage for future growth.

A：Key financial figures include total company revenues of $17.3 billion and oncology sales of Keytruda increasing 8% to $8.1 billion. In vaccines, Gardasil sales decreased 25% to $1.7 billion, while in cardiovascular, WRAAE sales were $360 million. The animal health business saw a 7% sales increase.

A：The acquisition of Verona Pharma and the restructured agreement for coseli Go influenced the company's financial guidance for the full year, with expected revenue between $55 billion and $65 billion, representing growth of 1 to 2%, excluding a negative impact from foreign exchange. The guidance also included an updated estimate of less than $100 million in costs related to the impact of tariffs, with operating expenses assumed between $25.9 and $26.4 billion and other expense between $400 and $500 million.

A：The company's guidance for the full year assumes a tax rate between 14 and 15%, with an assumed number of approximately 2.51 billion shares outstanding. This leads to an EPS guidance of between $8.93 and $8.98.

A：The company intends to fully invest behind their opportunities, with an expectation for an acceleration in underlying operating expense growth driven by investment in Research and Development (R&D) and Sales and Marketing (S&A) to fuel their pipeline and new launches. They plan to invest more than half a billion dollars to maximize the potential of oveh, to continue bringing forward innovative medicines and vaccines, and to drive growth for the company.

A：Key updates in oncology include FDA approval for cotrina Q Le injection for subcutaneous administration of pembrolizumab and a positive opinion from the European Medicinal Products Agency's Committee for Medicinal Products for Human Use on the same. The company has also made progress with its pipeline through various clinical trials and has received positive results for certain programs.

A：The company highlighted completed enrollment in the phase 3 Atlas trial in ulcerative colitis and the phase 3 Aries trial in Crohn's disease, along with expansion of the development program for evaluating Tuli soapbar in dermatology and rheumatology indications. They also discussed a phase 2 study evaluating Mk 3000 in patients with neovascular macular degeneration and retinal vein occlusion, and plans to initiate late-stage trials in 2026. In the cardiovascular and pulmonary programs, they talked about the continued evidence for benefit of Wimber Vir in patients with pulmonary arterial hypertension and the closing of the Verona Pharma acquisition to advance the ongoing work in bronchiectasis and evaluate utility and additional indications.

A：The investigational oral PCSK1 inhibitor met all primary and key secondary endpoints in the Coral Reef Lipid Study, demonstrating a statistically significant and clinically meaningful reduction in LDL cholesterol for the treatment of adults with hypercholesterolemia. The detailed results of the study, as well as another study focused on familial heterozygous hypercholesterolemia, will be presented at the American Heart Association scientific sessions meeting in New Orleans in November.

A：The company continues to see strong momentum across the pipeline with phase I and II trials underway across multiple therapeutic areas. More than 15 phase III trials have been initiated this year, and an increasing number are expected in 2026. In the first half of 2026, there will be a regular cadence of milestones across therapeutic areas, including oncology. Specific upcoming milestones include the February 2026 PDUFA date for certain patients with platinum-resistant recurrent ovarian cancer based on Keynote B-96, the April 7, 2026, PDUFA date for earlier-stage NSCLC based on Keynote 905, the April 28, 2026, PDUFA date for the combination of Deray and Ela as an oral once-daily treatment regimen, and data from phase 3 trials and immunology phase I data for tulastar B from the Athena study and SSc-ILD in cardiopulmonary disorders.

A：The company's view has not changed; they do not consider a transformative acquisition or a synergy-driven deal necessary for their future. They have one of the most robust pipelines and see large synergy-driven deals as disruptive to their current activities. Their focus remains on bringing in pipeline assets rather than pursuing those types of deals.

A：The initial focus of the development program for Tll-1 An was in the gastrointestinal (GI) space, aiming to be the first-in-class 1A agent. However, the company has also expanded its focus to include indications suggested by recent phase 2B studies in rheumatoid arthritis and dermatology. While acknowledging that additional development opportunities in the INR space are still possible, the company is particularly interested in phase 2 studies for ulcerative colitis and Crohn's disease due to fibrosis, as well as phase 2 studies for SSc-ILD.

A：The potential benefits of Trop-2ADC over PD-1 therapy include a 6 to 12 month benefit on overall survival, as the data suggests. This signal has generated excitement, and the company is eager to see the progression of trials that will define the role of Trop-2ADC in relation to PD-1 therapy. They are also interested in how data evolves from outside studies and how it informs the design of future phase 3 combination trials with their lenvatinib asset.

A：The company feels positive about the launch of influenza vaccine in the United States and the progression of the season. Although the full approvals were received a few weeks later than initially expected, which impacted the timing, there was an initial stocking of $75 to $79 million, including a seeding order from the GAVI Alliance and other wholesaler or distributor stocking. As the season progresses into the following year, the company continues to see opportunities for this vaccine, which has benefits such as no weight-based dosing and the ability to look at total contract vaccines. Customer feedback has been very good, and the company looks forward to an impact this season and even more next year.

A：The text does not provide specific details on the proportion of sales from early-stage settings or which of the 10 approved therapies is driving revenue. An update on Katru and the revenue contribution from early-stage settings was requested but not provided in the given text.