Merck & Co., Inc.

Welcome to the Merck & Co., Inc. by New Jersey USA third quarter sales and earnings conference call. At this time, all participants are in a listen-only mode until the question and answer session of . At that time, to ask a question, press star 1 on your phone and record your name at the prompt. This call is being recorded. If you have any objections, you may time. I would now like to turn the call over to Mr. Peter Dannenbaum, Senior Vice President, Investor Relations, Sir, you may begin.

Thank you, Julie, and good morning, everyone. Welcome to the third quarter 2026 conference call for Merck & Co., Inc., Rahway, New Jersey, USA. Speaking on today's call will be Rob Davis, Chairman and Chief Executive Officer, Caroline Litchfield, Chief Financial Officer, and Dr. Dean Li, President of Research Labs. Before we get started, I'd like to point out that we have items in our GAAP results, such as acquisition-related charges, restructuring costs, and certain other items that we have excluded from our non-GAAP results. There is a reconciliation in our press release. I will also remind you that some of the statements that we make today may be considered forward-looking statements within the meaning of the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Such statements are made based on the current beliefs of our company's management and are subject to significant risks and uncertainties. If our underlying assumptions prove inaccurate or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Our SEC filings, including Item 1A and the 2025 10-K, identify certain risk factors and cautionary statements that could cause the company's actual results to differ materially from those projected in any of our forward-looking statements made this morning. Merck & Co., Inc., Rodway, New Jersey, USA, undertakes no obligation to publicly update any forward-looking statements. During today's call, a slide presentation will accompany our speaker's prepared remarks. These slides, along with the earnings release, today's prepared remarks, and our SEC filings, are all posted to the investor relations section of our company's website. With that, I'd like to turn the call over to Rob.

Thank you, Peter. Good morning, and thank you for joining today's call. 2026 continues to be a year of substantial progress for our company. We're executing well on all fronts, demonstrated particularly by the many new product launches now successfully underway and the important clinical milestones we're achieving that are further de-risking the substantial long-term opportunity of our late phase pipeline. This momentum extends across multiple therapeutic areas and modalities and there is much more to come with numerous significant readouts still to occur over the coming years. I'm very pleased that the disciplined execution of our strategy over the past several years is increasingly translating into meaningful clinical, regulatory, and commercial results. The breadth of these achievements strengthens my confidence in the future of our company and our ability to deliver long-term value for patients and shareholders. Turning to our third quarter results, we delivered solid performance with revenue of $18.1 billion, reflecting increased contributions from new products, as well as strength in oncology and animal health. Caroline will discuss our results in the full year outlook in greater detail in a moment. We also achieved several important clinical and regulatory milestones. In oncology, last weekend's ESMO meeting showcased potential practice changing advances for several innovative programs highlighted by the first positive phase three results from our expansive global TROs-FEWS program for SAC-TMT in advanced or recurrent endometrial cancer. Additional data shared at the meeting from our partner, Kahlun, further support the potential of SAC-TMT in lung cancer and other tumor types. And we are encouraged by the landmark validation of a therapeutic cancer vaccine with positive phase three data presented for Entismeron autogene as an adjuvant treatment for certain patients with melanoma. This new approach may offer a tangible opportunity to change the trajectory of a patient's cancer. In ophthalmology, we presented results from the Brunello study evaluating Remigremig in diabetic macular edema, a significant milestone for our rapidly advancing retinal disease portfolio. And finally, in immunology, we presented encouraging Phase IIb results in HS and look forward to advancing our TL1a development program. This year's clinical and commercial progress underlines the ongoing transformation of our business and provides us with greater visibility into the trajectory of our emerging and expansive new product portfolio. The opportunity we have to drive strong long-term growth beyond the Katruta LOE period is becoming increasingly clear as we achieve these scientific and commercial milestones. As we look ahead, we'll remain focused on successfully executing our launches Broadening and advancing our pipeline and making meaningful investments to realize the full potential of these opportunities. I want to recognize and thank our dedicated global teams for their ongoing commitment to delivering value for patients, shareholders and all of our stakeholders. And now I'll turn the call over to Caroline.