• Merck average gross margin for 2023 was 60.56%, a 2.56% decline from 2022.
• Merck average gross margin for 2022 was 62.15%, a 0.27% decline from 2021.
• Merck average gross margin for 2021 was 61.98%, a 0.49% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.