Merck KGaA ADR

MKKGY: OTCM (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Rare Disease Momentum Expected to Counteract Sales Declines in Mature Healthcare Drug Portfolio

Max Jousma

May 7, 2026

Business Strategy and Outlook

Merck KGaA operates in three key segments: healthcare, life science, and electronics. Over the past decade, strategic acquisitions and divestments have strengthened its position in these industries, increasing its exposure to end-markets with stronger long-term growth potential and supporting its competitive advantages.

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Merck KGaA ADR

Rare Disease Momentum Expected to Counteract Sales Declines in Mature Healthcare Drug Portfolio

Business Strategy and Outlook

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