MRK/ 07/29/2025 · 9:56 AM Merck's Cost Cuts: Keytruda Patent & Gardasil Woes Merck initiates $3B annual cost cuts by 2027 due to Keytruda's 2028 patent expiry & a 55% Q2 drop in Gardasil sales from China. Reinvesting for post-Keytruda growth.