Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at...

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Merck Oncology Overview ASCO 2021

Transcript of Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at...

Page 1: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MerckOncology Overview ASCO 2021

Page 2: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Agenda

• Overview of Oncology Program | Dr. Dean Li, President, Merck Research Labs

• ASCO 2021 Highlights | Dr. Roy Baynes, SVP and Chief Medical Officer, MRL

• Late-stage Pipeline | Dr. Vicki Goodman, VP of Late-stage Oncology Development, MRL

• Early-stage Pipeline | Dr. Eric Rubin, SVP of Early-stage Oncology Development, MRL

• Commercial Update | Jannie Oosthuizen, SVP of Oncology Human Health, Merck

• Q&A

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Page 3: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Forward-looking statement of Merck & Co., Inc., Kenilworth, N.J., USA

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This presentation of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline products that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2020 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

Page 4: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Dr. Dean LiPresident, Merck Research Labs

Page 5: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Uniquely positioned to drive long-term success and oncology leadership through continued execution and momentum

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Broad oncology program with deep

pipeline of differentiated early-

and late-stage assets

World-class scientific expertise and ability to leverage KEYTRUDA’s

foundational stature

Extensive runway to advance science to

reach more patients and solve for unmet

need

Unmatched commercial expertise

to capitalize on significant

opportunities

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KEYTRUDA has now demonstrated activity in more than 30 different types of cancer defined by site of origin, histology, or genetic markers

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-100

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100NSCLC2

-100

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100Gastric6

-100

0

100

-100

0

100H&N3 TNBC5

-100

0

100cHL7Urothelial4

Chan

ge F

rom

Bas

elin

e in

Tum

or S

ize, %

-100

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100Mesothelioma9

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100Anal14

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100SCLC11

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100NPC13 HCC16Esophageal12

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100Ovarian10

-100

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100ER+/HER2– BC17 Cervical18

Thyroid19 Salivary20 Endometrial21

-100

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100Melanoma1

-100

0

100Biliary Tract15

-100

0

100Prostate22 GBM23

-100

0

100

-100

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100MSI-H CRC24

-100

0

100

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0

100Carcinoid25

-100

0

100pNET25

ccRCC27 nccRCC28

-100

0

100MSI-H non-CRC24

-100

0

100Merkel Cell26

-100

0

100

tTMB-H29

-100

0

100

cSCC30

-100

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100

-100

0

100NHL PMBCL8

1. Daud A et al. ASCO 2015; 2. Garon EB et al. ESMO 2014; 3. Seiwert T et al. ASCO 2015; 4. Plimack E et al. ASCO 2015; 5. Nanda R et al. SABCS 2014; 6. Bang YJ et al. ASCO 2015; 7. Moskowitz C et al. ASH 2014; 8. Zinzani PL et al. ASH 2015; 9. Alley EA et al. AACR 2015; 10. Varga A et al. ASCO 2015; 11. Ott PA et al. 2015 ASCO; 12. Doi T et al. ASCO 2015; 13. Hsu C et al. ECC 2015; 14. Marabelle A et al. ASCO 2020; 15. Bang Y-J et al. ECC 2015; 16. Zhu A et al. ASCO 2018; 17. Rugo HS et al. SABCS 2015; 18. Frenel JS et al. ASCO 2016; 19. Mehnert JM et al. ASCO 2016; 20. Cohen R et al. ASCO 2016; 21. Ott PA et al. ASCO 2016; 22. Hansen AR et al. ESMO 2016; 23. Reardon D et al. SNO 2016; 24. Diaz L et al. ESMO 2017; 25. Mehnert J et al. ESMO 2017; 26. Nghiem P et al. ASCO 2018; 27. McDermott DF et al. ASCO 2018; 28. McDermott DF et al. ASCO-GU 2019; 29. Marabelle A et al. ESMO 2019; 30. Grob JJ et al. ESMO 2019.

= cancer types with approved indications

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KEYTRUDA monotherapy and in combination improved cancer outcomes in Phase 3 studies across a broad range of malignancies

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0 10 20 30 40 50 600

10

20

30

40

50

60

70

80

90

100

Months

PFS,

%

No. at Risk153 73 53154 56 14

6025

288

62

00

0 6 12 18 24 30 36 42 48 540

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk432 407 286429 379 252

384336

259224

1612

318279

00

345306

141110

0 8 16 24 32 40 48 56 64 720

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk270 148 49272 109 25

9859

4224

3623

6935

00

5827

116

0 10 20 30 40 50 600

20

40

60

80

100

Months648 509 440 410 344 86 0655 396 336 290 227 61 1

No. a t Risk

0 3 6 9 12 15 18 21 24 270

10

20

30

40

50

60

70

80

90

100

Months

EFS,

%

No. at Risk784 780 765 666 519390 386 380 337 264

00

376186

242116

7335

21

0 5 10 15 20 25 30 35 40 450

10

20

30

40

50

60

70

80

90

100

Months

DFS

, %

No. at Risk496 151498 145

6156

233209

00

457436

414389

11

371341

2119

0 8 16 24 32 40 480

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk278 190 79135 84 27

12249

00

5316

162

0 6 12 18 24 30 36 42 48 54 60 660

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk637 463 304 246 100637 485 236 177 60

193131

00

10

5940

368319

156100

1912

0 12 24 36 48 60 720

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk690 333 217 148 90343 114 46 35 18

11027

113

Monotherapy

0 12 24 36 48 60 720

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk556 387 297 245278 145 103 90

00

21179

17769

KEYNOTE-006Pembro vs Ipi

Ipi-Naive Melanoma, Any PD-L1

OS

0 6 12 18 24 30 36 42 48 54 60 66 720

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk154 121 78 66 20151 108 48 35 13

6233

00

8961

5126

10680

7344

5428

03

KEYNOTE-024Pembro vs Chemo

1L NSCLC, TPS ≥50%

OS

0 5 1 0 1 5 2 0 2 5 3 0

0

1 0

2 0

3 0

4 0

5 0

6 0

7 0

8 0

9 0

1 0 0

M o n t h s

OS

, %

N o . a t R is k2 4 7 1 6 0 1 0 32 4 8 1 5 1 8 2

4 83 4

00

1 41 0

21

KEYNOTE-040Pembro vs SOC

2L+ HNSCC, Any PD-L1

OS

KEYNOTE-042Pembro vs Chemo

1L NSCLC, TPS ≥1%

OS

0 5 10 15 20 25 30 35 40 45 50 55 600

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk257 197 152 92 62255 207 132 60 29

7142

00

5522

2210

126

20

11190

4016

KEYNOTE-048Pembro vs EXTREME1L HNSCC, CPS ≥1

OS

KEYNOTE-181Pembro vs Chemo

2L Esophageal, CPS ≥10

0 4 8 12 16 20 24 28 32 360

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk107 86 59 45 10115 76 48 23 9

2914

00

54

01

2114

OS

KEYNOTE-240Pembro vs Placebo2L HCC, Any PD-L1

OS

0 5 10 15 20 25 30 35 400

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk96 79 57 41 2398 80 54 36 12

00

114

11

2623

KEYNOTE-119Pembro vs Chemo

2/3L TNBC, CPS ≥10

OS

0 6 1 2 1 8 2 4 3 0 3 6 4 20

1 0

2 0

3 0

4 0

5 0

6 0

7 0

8 0

9 0

1 0 0

M o n t h s

OS

, %

N o . a t R is k9 2 6 2 5 29 0 7 0 4 2

4 52 8

00

3 21 6

1 37

40

KEYNOTE-062Pembro vs Chemo 1L Gastric, CPS ≥10

OS

KEYNOTE-045Pembro vs Chemo

2L Bladder, Any PD-L1

OS

KEYNOTE-010Pembro vs Docetaxel 2L+ NSCLC, TPS ≥1%

OS

0 6 12 18 24 30 36 420

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk307 110352 104

6246

133150

10

228297

170197

1920

KEYNOTE-361Pembro vs Chemo

1L Bladder, Any PD-L1

OS

RFS

KEYNOTE-054Pembro vs Placebo Adjuvant Melanoma

PFS

KEYNOTE-177Pembro vs Chemo

1L MSI-H/dMMR CRC, Any PD-L1

0 6 12 18 24 30 36 42 480

10

20

30

40

50

60

70

80

90

100

Months

PFS,

%

No. at Risk270 170 116 86272 140 73 47

6935

00

6028

5226

1712

KEYNOTE-204Pembro vs BV

R/R cHL, Any PD-L1

PFS

Combinations

0 6 12 18 24 30 36 42 48 540

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk410 347 234 184 99206 149 72 55 29

12534

00

28398

14942

2810

KEYNOTE-048Pembro + Chemo vs

EXTREME1L HNSCC, Any PD-L1

0 5 10 15 20 25 30 35 40 45 50 55 600

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk281 227 169 94 70278 227 148 67 32

7847

00

6324

308

92

10

122101

4917

OS

KEYNOTE-361Pembro + Chemo vs

Chemo1L Bladder, Any PD-L1

0 6 12 18 24 30 36 420

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk351 118352 104

5646

168150

00

306297

217197

1720

OSKEYNOTE-189

Pembro + Chemo vs Placebo + Chemo

1L Nonsquam NSCLC, Any PD-L1

OS

KEYNOTE-426Pembro + Axitinib vs

Sunitinib1L RCC, Any PD-L1

KEYNOTE-407Pembro + Chemo vs

Placebo + Chemo1L Squam NSCLC, Any PD-L1

0 6 12 18 24 300

10

20

30

40

50

60

70

80

90

100

MonthsO

S, %

No. at Risk278 232 180 119 46281 246 137 91 36

43

OS OS0 3 6 9 12 15 18 21 24 27 30 33 36

0

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk373 348 68376 338 51

235200

1715

74

151108

00

295274

187147

11882

3628

21

OS

KEYNOTE-590Pembro + Chemo vs

Placebo + Chemo1L Esophageal, Any PD-L1

KEYNOTE-604Pembro + EP vs

Placebo + EP 1L SCLC, Any PD-L1

0 6 12 18 24 300

10

20

30

40

50

60

70

80

90

100

Months

OS,

%

No. at Risk228 175 60225 170 44

10289

158

10

OS

KEYNOTE-522Pembro + Chemo/Pembro vs

Placebo + Chemo/PlaceboNeoadj/Adj TNBC, Any PD-L1

EFS

KEYNOTE-355Pembro + Chemo vs

Placebo + Chemo1L TNBC, CPS ≥10

0 6 12 18 24 30 360

10

20

30

40

50

60

70

80

90

100

Months

PFS,

%

No. at Risk220 122 44103 41 12

6318

258

53

00

PFS

KEYNOTE-775 (Study 309)Pembro + Lenvatinib vs Doxorubicin or Paclitaxel

2L EC, Any PD-L1

OSKEYNOTE-581 (CLEAR)Pembro + Lenvatinib vs

Sunitinib1L RCC, Any PD-L1

OS

KEYNOTE-053Pembro vs IFN or Ipi Adjuvant Melanoma

RFS

RFS

KEYNOTE-564Pembro vs Placebo

Adjuvant RCC

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Broad oncology strategy to improve outcomes for cancer patients globally

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Further establishKEYTRUDA as foundational treatment and expand to additional tumor types and to earlier stages of disease

Advance pipeline and pursue strategic collaborations and acquisitions to broaden portfolio

Identify patients most likely to benefit using biomarkers

Deepen responses and extend benefit with combinations

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Industry’s broadest immuno-oncology development program aimed to advance standard-of-care and address unmet needs

Merck’s Oncology

Development Program

>1,500 Ongoing

clinical trials

>1,000 Combination

trials

>100 Registrational

trials for KEYTRUDA under way

>25 Novel

mechanisms

>50Business

development transactions

in 2020

>120Keytruda

trials in adj/neoadjuv

and earlier lines

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Page 10: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

More than tripling the number of new indications and launches across oncology portfolio over the next eight years

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2014-2020 2021-2028

PIPELINE ASSETS

LENVIMA

LYNPARZA

KEYTRUDA

>90 potential approvals expected by 2028 with more than 50 expected by 2025

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Shaping the future of oncology by leveraging our robust portfolio and pipeline…

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Further establish KEYTRUDA as a foundational anti-PD-1 cancer treatment in monotherapy and in combination regimens

Diversify through partnerships with PARPi, VEGF TKI, HER2 TKI, LIV-1 ADC

Ladiratuzumab Vedotin (LV)

HIF-2α(MK-6482/belzutifan)

BTK (MK-1026)

ROR-1 ADC(MK-2140)

Diversify through acquisitions of BTK, HIF-2α, ROR-1 ADC assets

Expand the IO-IO strategy throughcombinations with internal assets

TIGIT(MK-7684/

vibostolimab)

CTLA-4(MK-1308/

quavonlimab)ILT4

(MK-4830)

LAG-3(MK-4280/

favezelimab)

Expand into cell-based therapies & T/NK cell engagers

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Dr. Roy BaynesSVP and chief medical officer, MRL

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Page 13: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

New Phase 3 data for KEYTRUDA in Adjuvant RCC (KN-564)

New Lynparza data in adjuvant breast cancer (OlympiA)

Final analysis of OS and RFS in Phase 3 KN-053 studying adjuvant KEYTRUDA in melanoma patients

First-time presentation of KN-811 in HER2+ gastric/GEJ patients

Recent top-line from KN-522 in adjuvant and neoadjuvant TNBC

New outcomes data from KN-581 and KN-775 supporting benefit from the combination in RCC and endometrial carcinoma patients

Long-term survival data for KEYTRUDA in urothelial carcinoma based on 5-year follow-up from KN-045 and KN-052

Final analysis from KN-426 in front-line RCC

First-time presentation of Phase 1 data studying favezelimab (MK-4280) in MSS CRC patients

Additional data from belzutifan (MK-6482) in RCC and non-RCC malignancies

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ASCO 2021: new, long-term and early data from broad portfolio

New Data Including in Early-Stage Disease…

… DemonstratingPatient Benefit ...

… And Progressing Novel Mechanisms

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KEYNOTE-564: new data in adjuvant RCC demonstrated clinically meaningful improvement in disease-free survival compared to placebo

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KEYTRUDA following surgery reduced risk of recurrence or death by 32% compared to placebo for patients with RCC

• Favorable trend in overall survival (OS) was observed with a 46% reduction in the risk of death with KEYTRUDA as compared to placebo (HR=0.54 [95% CI, 0.30–0.96]; p=0.0164).

• First anti-PD-1 therapy to show positive results for adjuvant immunotherapy in RCC

• Nearly half of high-risk RCC patients experience disease recurrence after surgery

0 5 10 15 20 25 30 35 40 450

10

20

30

40

50

60

70

80

90

100

Months

DFS

, %

No. at Risk

PembroPlacebo

496 457 414 371 1 0233 21151 61498 436 389 341 1 0209 19145 56

PembroPlacebo

HR 0.68 (95% CI, 0.53–0.87); P = 0.0010a

% Events Median (95% CI)

Pembro 22.0% NR (NR–NR)

Placebo 30.3% NR (NR–NR)

Median follow-up: 24.1 (14.9–41.5) mos.

aCrossed prespecified p-value boundary for statistical significance of 0.0114.ITT population included all randomized participants. NR, not reached. Data cutoff date: December 14, 2020.

Disease-free survival in ITT population

12-mo rate85.7%76.2%

24-mo rate77.3%68.1%

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OlympiA: Lynparza in adjuvant breast cancer changing survival expectations in certain early-stage patients

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Lynparza reduced risk of invasive disease recurrence or death by 42% in gBRCAm High-risk HER2- early-stage breast cancer based on Phase 3 study

• Stratified HR=0.58 (99.5% CI, 0.41 to 0.82); P<0.0001• At three years since trial initiation, 85.9% of patients

treated with Lynparza were free of invasive disease versus 77.1% on placebo (difference 8.8%; 99.5% CI 4.5%, 13.0%)

• Improvement in secondary endpoint of distant disease recurrence or death by 43% in the ITT population (HR=0.57 [99.5% CI, 0.39-0.83]; p<0.0001)

• Favorable trend in OS with a 32% reduction in the risk of death (HR=0.68 [99% CI, 0.44 to 1.05]; p=0.024)

Data cutoff: Dec. 15, 2020In partnership with AstraZeneca

921 820 737 607 477 361 276 183

915 807 732 585 452 353 256 173

Olaparib

Placebo

0 6 12 18 24 30 36 42Time Since Randomization (Months)

0

20

40

60

80

100

Inva

sive

Dis

ease

-Fre

eSu

rviv

al (%

)

Olaparib (106 events)Placebo (178 events)

88.4

93.3

81.5

89.2 85.9

77.1

No. at Risk

Difference: 3-year IDFS rate8.8% (95% CI, 4.5% to 13.0%)

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Favezelimab (LAG-3): ASCO data shows anti-tumor activity in MSS CRC patients; advancing into Phase 3 study as co-formulation with KEYTRUDA

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Favezelimab + PembrolizumabN = 80

PD-L1 CPS ≥1N = 36

PD-L1 CPS <1N = 35

Best response n % (95% CI) n % (95% CI)

ORR (CR + PR) 4 11 (3.1-26.1) 1 2.9 (0.1-14.9)Best overall response

CR 1 2.8 (0.1-14.5) 0 0 (0.0-10.0)

PR 3 8.3 (1.8-22.5) 1 2.9 (0.1-14.9)

SD 9 25.0 (12.1-42.2) 4 11.4 (3.2-26.7)

PD 15 41.7 (25.5-59.2) 24 68.6 (50.7-83.1)

DCR (CR+PR+SD) 13 36.1 (20.8-53.8) 5 14.3 (4.8-30.3)Median DOR 10.6 months (range, 5.6-12.5)

aNo patient receiving favezelimab alone responded; No response occurred in patients with missing PD-L1 status (N=9); bDoes not include patients with missing PD-L1 status (N=9).

CR, complete response; DCR, disease control rate; DOR, duration of response; PR, partial response; PD, progressive disease; SD, stable disease; Data cut-off date Oct 23, 2020.

Antitumor Response

High unmet need in sick patients treated at later stages with low survival rates. Limited treatment options.• Responses seen in additional tumor

types

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KEYNOTE-581: outcomes data further supports benefit of combination for patients with first-line RCC

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KEYTRUDA plus LENVIMA significantly improved several health-related quality of life (HRQoL) measures compared with sunitinib in RCC patients• At ASCO GU 2021, data on the

combination was highlighted demonstrating significant improvements in PFS (HR=0.39 [95% CI: 0.32-0.49]; p<0.001), and OS (HR=0.66 [95% CI: 0.49-0.88]; p=0.005) vs sunitinib in the same patient population

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KEYNOTE-775: outcomes data further supports benefit of combination for patients with previously-treated endometrial carcinoma

18

KEYTRUDA plus LENVIMA shows an overall favorable benefit/risk profile compared with physician’s choice treatment in endometrial carcinoma patients based on HRQoL data• At SGO 2021, data on the combination was

highlighted demonstrating significant improvements in PFS (HR=0.56 [95% CI: 0.47-0.66]; p<0.0001), and OS (HR=0.62 [95% CI: 0.51-0.75]; p<0.0001) vs physician’s choice treatment

Changes from baseline to week 12 in EORTC QLQ-C30 GHS/QoL and EORTC QLQ-EN24 functional scales where a higher score denotes better quality of life or function.

Page 19: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

KEYNOTE-811: KEYTRUDA+trastuzumab+chemotherapy becomes new treatment option for HER2+ metastatic gastric/GEJ cancer

19

-100

-80

-60

-40

-20

0

20

40

60

80

100

Chan

ge F

rom

Bas

elin

e (%

)

-100

-80

-60

-40

-20

0

20

40

60

80

100

Chan

ge F

rom

Bas

elin

e (%

)

Pembro Arm N = 124a

Any decrease 97%

Decrease of ≥80% 32%

Placebo Arm N = 122a

Any decrease 90%

Decrease of ≥80% 15%

• Results support FDA accelerated approval in May 2021• Pembrolizumab plus trastuzumab and chemotherapy provided a 74.4% ORR that resulted in a statistically significant,

clinically meaningful 22.7% improvement in ORR compared with placebo plus trastuzumab and chemotherapy• Responses to pembrolizumab plus trastuzumab and chemotherapy were deeper and more durable• Study is continuing as planned, and analyses of OS and PFS will be performed in the future in accordance with the

analysis plan

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Long-term follow-up data confirm durable benefits of KEYTRUDA monotherapy or in combination across important indications

20

+XX% YOY

1L RCC 1L Bladder 2L Bladder

In a final analysis of KN-426 (42 months follow-up) KEYTRUDA+axitinib continued to demonstrate clinically significant improved efficacy compared with sunitinib for previously untreated renal cell carcinoma patients (CR rate: 10% vs 3.5%)

Updated results from KEYNOTE-052 studying cisplatin-ineligible patients with untreated advanced UC after 5 years of follow-up were consistent, showing an ORR of 29% across the entire population (initial results showed an ORR of 24%)

After at least 5 years of follow-up, KEYTRUDA continued to show improved OS, ORR and DOR compared to chemotherapy in patients with advanced, platinum-resistant/refractory urothelial carcinoma

Overall survival in ITT populationOverall survival in ITT population

HR, 0.73 (95% CI, 0.60-0.88)P < 0.001

Kaplan-Meier Estimates of DOR

Page 21: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Dr. Vicki GoodmanVice President, Late-stage Oncology

Page 22: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Select assets from late-stage oncology program

22

belzutifan (HIF-2α)

vibostolimab (TIGIT)

quavonlimab (CTLA-4)

favezelimab (LAG-3)

MK-1026 (BTK)

Page 23: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Belzutifan: continues to demonstrate efficacy in VHL-disease associated RCC and potential in other tumor types

HIF-2α

Hypoxia

MK-6482 Binds to HIF-2α and Prevents Its Heterodimerization with HIF-1β

NucleusHIF-2α

HIF-2α

Prolyl hydroxylases

Normoxia (O2)

HIF-2αHOHO

pVHL

Inactivated VHL PseudohypoxiaO2

MK-6482

HRE

HIF-1β

Updated data at ASCO showed durable responses and disease control in VHL-RCC

• Belzutifan, first-in-class HIF-2α Inhibitor under FDA priority review with Sept. PDUFA; breakthrough therapy and orphan drug designations also granted

• MHRA granted first ever Innovation Passport, part of the Innovative Licensing and Access Pathway (ILAP)

• Advanced into 3 pivotal Phase 3 studies in advanced RCC

Page 24: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Vibostolimab (TIGIT): advancing clinical development of co-formulation based on compelling early data

MK-7684 + Pembrolizumab Arm

• Presented vibostolimab combination data at ESMO 2020 in PD-1/L1-naïve patients; more to come

• New Phase 3 study in PD-L1+ mNSCLC patients

• New Phase 2 biomarker study in mNSCLC patients

• Additional signal-finding studies under way across multiple other tumor types

Page 25: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Quavonlimab (CTLA-4): encouraging co-formulation data in patients with RCC leads to late-stage development

Cell Activation by Anti-CTLA-4 mAb

Cell Activation by Anti-PD-1 mAb

• Evaluating as co-formulation with KEYTRUDA in 6 studies across 5 tumor types, including RCC, HCC, MSI-H CRC and Melanoma

• Newly posted MSI-H CRC Phase 2 study

• Exploring additional combinations with assets in late-stage pipeline, including LENVIMA and belzutifan in patients with RCC

• Encouraging data from Phase 1 studying co-formulation in patients with advanced solid tumors presented at ESMO 2019

Page 26: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Favezelimab (LAG-3): early encouraging co-formulation data in MSS CRC patients leads to Phase 3 advancement

MK-4280 Blocks the Interaction Between MHC Class II Receptors and LAG-3

MK-4280 Could Inhibit LAG-3 Upregulation Restoring T-cell Effector Functions Targeting Tumor Cells

aEvaluated in patients with measurable disease at baseline and ≥1 evaluable post-baseline imaging assessment (n = 18 for MK-4280 monotherapy, n = 14 for MK-4280 + pembrolizumab).Database Cutoff Date: Jun 12, 2018. 1. Lakhani N et al. Presented at SITC 2018.

• Encouraged by early data presented at SITC 2018 and most recently the data at ASCO 2021

• Advancing to Phase 3 in 2H 2021 in co-formulation with KEYTRUDA in MSS CRC

• One of three assets being studied in co-formulation with KEYTRUDA

• Responses observed in additional tumor types

Page 27: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MK-1026 (BTK): plans to advance into studies with registrational intent based on strong early data and optimized dose

• Encouraged by early data presented at ASH 2019

• Phase 2 under way to further understand and optimize dose and efficacy

• Planning for registrational trials is under way

• Demonstrates broader interest in hematologic malignancies

Page 28: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Dr. Eric RubinSVP, Early-stage Oncology

Page 29: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Early oncology pipeline* includes more than 25 investigational immuno-therapeutic candidates, including novel combinations with KEYTRUDA

Personalized Cancer Vaccines

Tumor Microenvironment Modulators

Therapeutic vaccines based on patients’ specific cancer could

potentially prime the immune system to recognize certain characteristics

and attack the cancer cells

Regulating the environment around tumors, including through ADCs,

may influence tumor growth and its interaction with the immune system

Phase 1 Phase 2

ImmuneAgonists

Molecules designed to stimulate immune system functions, such as

enhancing the activity of anti-tumor immune cells

STING agonist(MK-2118)

CD-27 agonist (MK-5890)

Inhibition of Negative Immune Regulators

Blocking the action of molecules that suppress the immune system may trigger a more

robust anti-tumor response

ILT-4 antagonist (MK-4830)

LAG-3 (favezelimab/MK-4280)

CTLA-4 (quavonlimab/MK-1308)

TIGIT (vibostolimab/MK-7684)

KRAS (Moderna)(V941 / mRNA-5671)

BTK Inhibitor(MK-1026)

AKT Inhibitors(MK-7075 & MK-4440)

Pre-Clinical

KRAS – Taiho/Astex

*Select compounds only

ROR-1(MK-2140)

HIF-2α Inhibitor(MK-6482/belzutifan)

RNA-based vaccine (Moderna)(V940 / mRNA-4157)

LIV-1(MK-6440)

ILT-3 antagonist(MK-0482)

ERK Inhibitor(MK-8353)

Cell-based therapies & T/NK cell engagers

Use of allogeneic T and NK cells and T/NK cell engagers to attack tumors

Cytokine derivatives (Sutro)

Cell-based therapies (A2, Artiva)

T/NK cell engagers(Janux, Dragonfly)

Page 30: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Select assets from early-stage oncology program

30

ILT-4 antagonist (MK-4830)

CD-27 agonist

(MK-5890)

ROR-1 ADC (MK-2140)

LIV-1 ADC (MK-6440)

Page 31: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MK-4830 (ILT-4 antagonist): first-time initial efficacy data from Phase 1 dose escalation study shows potential for asset in solid tumors

31Data presented at ESMO 2020

ILT-4 preliminary efficacy data showed an ORR of 24% (8/34) in patients who received MK-4830 in combination with KEYTRUDA

Among 11 patients who progressed on prior PD-1 therapy, there were 5 responses (45%)

Under evaluation in signal-finding studies in combination with Keytruda in 9 different tumor types

Page 32: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MK-2140 (ROR-1 ADC): promising activity in patients with previously-treated relapsed or refractory B-cell cancers

Ig (Immunoglobulin domain)CRD (Cysteine-rich

domain)

Kr (Kringle domain)

TK (Kinase domain)

PRD (Proline-rich domain)

Ser/ThrSer/Thr

ROR1Tumor cell

Change in Tumor Regression2

1. Figure reprinted with permission from Borcherding N et al. Protein Cell. 2014. 5(7):496-502.2. Wang ML et al. Presented at ASH 2020. 3. Zhang et al. Am J Pathol. 2012 Dec;181(6):1903-10.

• Deep and prolonged tumor regressions among patients with mantle cell or diffuse large B-cell lymphoma

• Phase 2 in patients with advanced solid tumors • ROR1 expression has been associated with more aggressive disease that

doesn’t respond to current therapies in hematologic malignancies and solid tumors

1

3

Page 33: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MK-6440 (LIV-1 ADC): anti-tumor activity demonstrated in TNBC and signal finding studies under way to evaluate in multiple other tumor types

33

• Humanized IgG1 ADC selectively binds to cells expressing LIV-1

• LV-mediated delivery of MMAE drives anti-tumor activity through cytotoxic cell killing and immunogenic cell death

Tumors LIV-1 RNA prevalence

Prostate 99-100%

Breast 84-96%

Melanoma 67-92%

Esophageal 24-47%

Head & Neck 38-78%

Squamous lung 27-75%

Stomach adeno 2-14%

Ovarian 2-19%

Non-squamous lung 12-45%

Page 34: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MK-6440 (LIV-1): evaluating as monotherapy and in combination with KEYTRUDA for patients with TNBC

34

Phase 1 Study of LV in solid tumorsReduction in Total Tumor Burden by Best

Overall Response – mTNBC Patients

Phase 1/2 Trial in for 1L Treatment of Patients with Unresectable Locally-Advanced or Metastatic TNBC:

KEYNOTE-721

Maximum Change in Tumor Burden

Page 35: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

MK-5890 (CD-27 agonist): encouraging anti-tumor activity

35

MK-5890, anti-CD27Best Percentage Change From Baselinein Target Lesions

Shapira-Frommer R et al. Presented at SITC 2019 Figure reproduced with permission

• Early anti-tumor activity observed in patients with advanced solid tumors in both the monotherapy and combination arms

• Signal-finding effort in combination with KEYTRUDA in NSCLC and TNBC under way

Page 36: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

• First companion diagnostic for NSCLC: PD-L1 on tumor cells• First companion diagnostic for gastric, cervical,bladder, esophagealand head & neck cancers: PD-L1 on

tumor and immune cells

Leader in precision medicine, identifying patients most likely to benefit from treatment

36

Our clinical trials and predictive biomarker approachesare based on strong biological hypothesesBiomarker cutoffs are defined prospectively based on threshold analyses in independent training sets

• First approval based on biomarker, agnostic to tissue/site of origin, for MSI-H Cancer• Second approval based on biomarker, agnostic to tissue/site of origin, for TMB-H Cancer with

FoundationOne Companion Diagnostic (Foundation Medicine Inc)

Increased Antigenicity Dueto High DNA Mutation Load

• Companion diagnostics for ovarian, breast, pancreatic & prostate gBRCA mutations• Companion diagnostic for BRCA mutations in ovarian tumors• Companion diagnostic for BRCA mutations and/or genomic instability in ovarian tumors• Companion diagnostic for homologous recombination repair (HRR) gene mutations in prostate• First companion diagnostic approval in Japan for US-based test

Homologous Recombination Deficiency

Exploratory Biomarkers• IHC for TIGIT, ILT-4, ROR-1, LIV-1, Trinkets• BTK and KRAS mutations and association with efficacy and resistance

PD- L1 Expression

Page 37: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Leading biomarker-driven strategy

In 2020, KEYTRUDA was granted two new biomarker-driven approvals:

37

TMB-H cancers based on KN-158 results demonstrating meaningful improvement in ORR

1L MSI-H CRC based on PFS results from KN-177

The PD-L1 IHC22C3 Test was the first FDA-approved companion diagnostic in immuno-oncology

Diagnostic testing for treatment decisions has become a standard and a widespread practice in NSCLC as well as other tumor types

Companion diagnostic approved in 1L/2L NSCLC, 2L cervical, 1L bladder, 2L esophageal and 1L H&N

Page 38: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Jannie OosthuizenPresident, Global Oncology

Page 39: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Unmet needs are high and pace of innovation has accelerated

39

Unmet needs remain and cancer

patients need continued innovation

The science of oncology is

accelerating, including the

advancement of precision medicines

Cost, health system capability and affordability

barriers limit access to

innovation

Strong need to demonstrate value

with data supporting clear

patient outcomes

Urgency to act now to advance standard of care

and provide more options for

patients

Page 40: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Driving global leadership across broad portfolio of commercial assets

40

Broad-based TKI

Foundational cancer treatment

Market-leading PARPi

40Approved

Indications

20Tumor types

+ MSI-H, TMB

>730KPatients treated with KEYTRUDA

Highly-selective small-molecule TKI

1

1. Patients treated with commercially-available product as of May 2021

Page 41: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

• First-in-class molecule targeting a gene transcription factor, based on Nobel Prize-winning science

• Result of successful business development

• Merck’s rapid execution has resulted in speed-to-market

• First market entry (US) expected 3Q21 in VHL-associated renal cell carcinoma

• 3 pivotal clinical trials in progress assessing efficacy alone and in combination with TKI & IO in advanced renal cell carcinoma

• Expected to be a blockbuster in the medium term

Belzutifan: first-in-class molecule well positioned for success in RCC and beyond

41

2-4LMonotherapy

2-3L inCombinationwith Lenvima

and more …

1L in Combinationwith Lenvima& Keytruda

VHL-AssociatedRCC

Growth opportunities in renal cell carcinoma and beyond

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Lynparza: set for sustained class leadership in women’s cancers and beyond with earlier stage disease

42

• Only PARPi approved in 7 indications across 4 different tumor types in the U.S.

• Moving into earlier lines of breast cancer treatment with OlympiA in adjuvant setting

• Lynparza has class leadership in the U.S. across ovarian cancer treatments, with ~60% of total PARPi prescriptions

• Only PARPi approved in pre-chemo metastatic castration-resistant prostate cancer beyond patients with BRCA mutations

• Additional indications with monotherapy and combinations with KEYTRUDA to drive significant growth going forward

Growth opportunities across multiple tumor types

In collaboration with AstraZeneca

Breast cancer

Pancreatic cancer

and more …

Prostate cancer

Ovarian cancer

Page 43: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Lenvima: establishing as TKI of choice with roll-out of new indications

43

• Combination program rolling out with new indications in 1L RCC and 2L Endometrial carcinoma –approvals expected in 3Q21

• 20 combination studies ongoing across 14 tumor types including NSCLC, HCC, Gastric, H&N and Melanoma

• Approved in markets worldwide in RCC, EC, HCC and differentiated thyroid cancer

• Significant opportunity in China given prevalence of HCC in the market

• Strong commercial collaboration sets foundation for execution in many future indications

Renal cellcarcinoma

Lungcancer

Hepatocellularcarcinoma

and more …

In collaboration with Eisai

Endometrialcarcinoma

Thyroidcancer

Growth opportunities across multiple tumor types

Page 44: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Well positioned for opportunity in early-stage treatment across cancer types where prevalence is significant

44

Early stage

Metastatic

Unknown

HEAD AND NECK

Early stage

Metastatic

Unknown

BLADDER

Early stage

MetastaticUnknown

BREAST

Early stageMetastatic

Unknown

LUNG

Early stage

Metastatic

Unknown

RENAL

Early stage

Metastatic

Unknown

MELANOMA

Source: SEER 2020: Cancer Prevalence by Stage in U.S.

Meaningful opportunity to improve patient outcomes with earlier diagnosis and treatment

Page 45: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

KEYTRUDA is being explored in a broad adjuvant program with 20 registrational studies ongoing

2018 2019 2020 2021 2022 2023 2024 2025 2026+

Adjuvant Melanoma (KEYNOTE-054) APPROVED

TNBC Neoadjuvant / Adjuvant(KEYNOTE-522)

Met dual primary EP in pCR and EFS

NMIBC (KEYNOTE-057) APPROVED

cSCC Locally Advanced (KEYNOTE-629) APPROVED in recurrent or metastatic; Sept. 2021 PDUFA for locally advanced

RCC Adjuvant (KEYNOTE-564) Met primary EP of DFS

NSCLC Adjuvant (KEYNOTE-091 -Interim)

Adjuvant Melanoma (KEYNOTE-716)

HNSCC Adjuvant (KEYNOTE-412)

Locally Advanced NMIBC (KEYNOTE-676 –Interim; Final Analysis 2025)

Gastric & Esophageal Adjuvant / Neoadjuvant (KEYNOTE-585)

HNSCC Adjuvant / Neoadjuvant (KEYNOTE-689)

NSCLC Neoadjuvant (KEYNOTE-671)

Neo/adjuvant MIBC (KEYNOTE-866)

Neo/adjuvant MIBC (KEYNOTE-905)

NSCLC Stage I/IIa (KEYNOTE-867)

HCC Adjuvant (KEYNOTE-937)

Ovarian BRCAwt + chemo (KEYLYNK-001)

TNBC Adjuvant (KEYNOTE-242)

cSCC Locally Advanced (KEYNOTE-630)

ER+ / HER2-Breast Cancer Adjuvant / Neoadjuvant (KEYNOTE-756)

Timeline based on clinicaltrial.gov primary completion dates. Actual timing may vary.45

Page 46: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Potential for 90+ approvals across oncology portfolio through 2028

Proportion of expected indications and new launches by product

46

Other(including co-formulated assets)

Page 47: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Expect to be oncology market leader by 2026 driven by additional indications, earlier lines of therapy and new assets and technologies

47

Source: Evaluate Pharma (as of 2/28/2021)

2021E 2022E 2023E 2024E 2025E 2026E

Merck

• Indications expected to more than triple over next 8 yearso Earlier lines of therapy, including

adjuvant / neoadjuvanto New combinations and co-formulationso New tumor typeso New assets

• Building on leadership in lung with early stage launches and further penetration of existing indications in Europe and other markets

• Encouraged by uptake of Q6W dosing in U.S., Europe and Japan

• Excited to launch additional adjuvant indications as data becomes available

• Well-positioned with early-stage assets, co-formulations and new routes of administration to sustain success well into next decade

Page 48: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Dr. Dean LiPresident, Merck Research Labs

Page 49: Merck Oncology Investor Event...2021/06/06  · 20 30 40 50 60 70 80 90 100 Months PFS, % No. at Risk 153 73 53 154 56 14 60 25 28 8 6 2 0 0 0 6 12 18 24 30 36 42 48 54 0 10 20 30

Uniquely positioned to drive long-term success and oncology leadership through continued execution and momentum

49

Broad oncology program with deep

pipeline of differentiated early-

and late-stage assets

World-class scientific expertise and ability to leverage KEYTRUDA’s

foundational stature

Extensive runway to advance science to

reach more patients and solve for unmet

need

Unmatched commercial expertise

to capitalize on significant

opportunities

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Q&A

To ask a question on the operator-assisted audio line, press *1.

Note: be sure to mute your computer speakers if you are listening to the audio webcast.

50