• Merck average gross margin for 2023 was 72.86%, a 3.26% increase from 2022.
• Merck average gross margin for 2022 was 70.56%, a 3.31% increase from 2021.
• Merck average gross margin for 2021 was 68.3%, a 1.37% 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.