Merck & Co (MSD) on Tuesday issued a sales forecast for 2026 in the range of $65.5 billion to $67.0 billion, below analysts' expectations of $67.6 billion.[1] The main reason for the weaker forecast is the loss of patent protection for the diabetes drug Januvia and other drugs, which will have a greater impact than analysts anticipated.[1] Still, the company posted better-than-expected results in the fourth quarter thanks to strong demand for its blockbuster oncology drug Keytruda.[1] CEO Rob Davis emphasized that the problem is with older products losing patent protection, but expressed confidence in the company's strategic direction.[1] Sales of the COVID-19 drug Lagevrio will also be lower than analysts expected, as demand for it declines as the pandemic recedes.[1] The company plans to continue to pursue acquisitions in the oncology, cardiometabolic and immunology fields, targeting transactions in the $1 billion to $15 billion range.[1]