Exhibit 99.2

MERCK & CO., INC.

CONSOLIDATED STATEMENT OF INCOME - GAAP

(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)

(UNAUDITED)

Table 1a

	2017			2016															% Change
	1Q			1Q			2Q			3Q			4Q			Full Year			1Q
Sales	$	9,434		$	9,312		$	9,844		$	10,536		$	10,115		$	39,807		1	%
Costs, Expenses and Other
Materials and production	3,015			3,572			3,578			3,409			3,332			13,891			-16	%
Marketing and administrative	2,411			2,318			2,458			2,393			2,593			9,762			4	%
Research and development	1,796			1,659			2,151			1,664			4,650			10,124			8	%
Restructuring costs	151			91			134			161			265			651			66	%
Other (income) expense, net	58			48			19			22			631			720			21	%
Income (Loss) Before Taxes	2,003			1,624			1,504			2,887			(1,356		)	4,659			23	%
Income Tax Provision (Benefit)	447			494			295			699			(769		)	718
Net Income (Loss)	1,556			1,130			1,209			2,188			(587		)	3,941			38	%
Less: Net Income Attributable to Noncontrolling Interests	5			5			4			4			7			21
Net Income (Loss) Attributable to Merck & Co., Inc.	$	1,551		$	1,125		$	1,205		$	2,184		$	(594	)	$	3,920		38	%
Earnings (Loss) per Common Share Assuming Dilution (1)	$	0.56		$	0.40		$	0.43		$	0.78		$	(0.22	)	$	1.41		40	%
Average Shares Outstanding Assuming Dilution (1)	2,766			2,795			2,789			2,786			2,755			2,787
Tax Rate	22.3		%	30.4		%	19.6		%	24.2		%	56.7		%	15.4		%

Sum of quarterly amounts may not equal year-to-date amounts due to rounding. 

(1) Because the company recorded a net loss in the fourth quarter of 2016, no potential dilutive common shares were used in the computation of loss per common share assuming dilution as the effect would have been anti-dilutive.

MERCK & CO., INC.
GAAP TO NON-GAAP RECONCILIATION
FIRST QUARTER 2016
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2b

	GAAP			Acquisition and Divestiture- Related Costs (1)		Restructuring Costs (2)		Adjustment Subtotal		Non-GAAP
Materials and production	$	3,572		1,386		47		1,433		$	2,139
Marketing and administrative	2,318			2		3		5		2,313
Research and development	1,659			35		55		90		1,569
Restructuring costs	91					91		91		—
Other (income) expense, net	48									48
Income Before Taxes	1,624			(1,423	)	(196	)	(1,619	)	3,243
Income Tax Provision (Benefit)	494			(209	)(3)	(43	)(3)	(252	)	746
Net Income	1,130			(1,214	)	(153	)	(1,367	)	2,497
Net Income Attributable to Merck & Co., Inc.	1,125			(1,214	)	(153	)	(1,367	)	2,492
Earnings per Common Share Assuming Dilution	$	0.40		(0.43	)	(0.06	)	(0.49	)	$	0.89
Tax Rate	30.4		%							23.0		%

Only the line items that are affected by non-GAAP adjustments are shown.

Merck is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the company’s results as it permits investors to understand how management assesses performance. Management uses these measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. Senior management’s annual compensation is derived in part using non-GAAP income and non-GAAP EPS. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.

(1) Amounts included in materials and production costs reflect $1.1 billion of expenses for the amortization of intangible assets recognized as a result of acquisitions, as well as $24 million of amortization of purchase accounting adjustments to inventories related to the 2015 acquisition of Cubist Pharmaceuticals, Inc., and $252 million of intangible asset impairment charges. Amounts included in marketing and administrative expenses reflect integration, transaction and certain other costs related to business acquisitions, including severance costs which are not part of the company’s formal restructuring programs, as well as transaction and certain other costs related to business divestitures. Amounts included in research and development expenses primarily reflect in-process research and development (IPR&D) impairment charges.

(2) Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company’s formal restructuring programs.

(3) Represents the estimated tax impact of the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.

MERCK & CO., INC.
FRANCHISE / KEY PRODUCT SALES
FIRST QUARTER 2017
(AMOUNTS IN MILLIONS)
Table 3a

	Global					U.S.					International
	1Q 2017		1Q 2016		% Change	1Q 2017		1Q 2016		% Change	1Q 2017		1Q 2016		% Change
TOTAL SALES (1)	$	9,434	$	9,312	1	$	4,195	$	4,222	-1	$	5,239	$	5,090	3
PHARMACEUTICAL	8,185		8,104		1	3,761		3,913		-4	4,424		4,191		6
Primary Care and Women’s Health
Cardiovascular
Zetia	334		612		-46	111		386		-71	222		226		-2
Vytorin	241		277		-13	90		109		-18	151		168		-10
Liptruzet	49		23		114						49		23		114
Adempas	84		33		158						84		33		158
Diabetes
Januvia	839		906		-7	507		549		-8	332		357		-7
Janumet	496		506		-2	195		226		-14	302		280		8
General Medicine & Women’s Health
Implanon / Nexplanon	170		134		27	132		99		32	39		35		12
NuvaRing	160		175		-9	113		128		-12	47		48		-1
Follistim AQ	81		94		-14	42		53		-21	40		42		-4
Hospital and Specialty
Hepatitis
Zepatier	378		50		*	200		49		*	178		1		*
HIV
Isentress	305		340		-10	143		162		-12	162		178		-9
Hospital Acute Care
Bridion	148		90		63	45		5		*	102		86		19
Noxafil	141		145		-3	65		71		-8	76		74		3
Invanz	136		114		20	82		65		26	54		49		10
Cancidas	121		133		-9	5		4		20	116		128		-10
Cubicin	96		292		-67	54		255		-79	41		37		13
Primaxin	62		73		-15			1		-57	62		73		-14
Immunology
Remicade	229		349		-34						229		349		-34
Simponi	184		188		-2						184		188		-2
Oncology
Keytruda	584		249		134	361		133		172	223		116		92
Emend	133		126		6	86		82		5	47		44		7
Temodar	66		66			1		4		-78	65		62		6
Diversified Brands
Respiratory
Singulair	186		237		-22	6		17		-66	180		220		-18
Nasonex	139		229		-40	18		112		-84	121		117		3
Dulera	82		113		-27	75		107		-29	7		6		18
Other
Cozaar / Hyzaar	112		126		-11	3		6		-48	109		121		-9
Arcoxia	103		111		-7						103		111		-7
Fosamax	61		75		-19	1		1		62	60		74		-20
Vaccines (2)
Gardasil / Gardasil 9	532		378		41	398		320		25	134		58		130
ProQuad / M-M-R II / Varivax	355		357			298		310		-4	57		47		21
RotaTeq	224		188		19	178		149		20	45		39		16
Pneumovax 23	163		107		52	114		67		70	49		40		22
Zostavax	154		125		23	109		109			45		16		174
Other Pharmaceutical (3)	1,037		1,083		-4	329		334		-1	709		745		-5
ANIMAL HEALTH	939		829		13	283		233		22	656		596		10
Other Revenues (4)	310		379		-18	151		76		99	159		303		-48

* 200% or greater

(1)Only select products are shown.

(2)Vaccine sales in 2017 include sales in the European markets that were previously part of the Sanofi Pasteur MSD (SPMSD) joint venture that was terminated on December 31, 2016. Amounts for 2016 include supply sales to SPMSD.

(3)Includes Pharmaceutical products not individually shown above. Other Vaccines sales included in Other Pharmaceutical were $88 million and $103 million on a global basis for first quarter 2017 and 2016, respectively.

(4)Other Revenues are comprised primarily of alliance revenue, third-party manufacturing sales and miscellaneous corporate revenues, including revenue hedging activities.

MERCK & CO., INC.

PHARMACEUTICAL GEOGRAPHIC SALES

(AMOUNTS IN MILLIONS)

(UNAUDITED)

Table 3b

	2017			2016															% Change
	1Q			1Q			2Q			3Q			4Q			Full Year			1Q
TOTAL PHARMACEUTICAL	$	8,185		$	8,104		$	8,700		$	9,443		$	8,904		$	35,151		1
United States	3,761			3,913			4,169			4,710			4,282			17,073			-4
% Pharmaceutical Sales	45.9		%	48.3		%	47.9		%	49.9		%	48.1		%	48.6		%
Europe (1)	1,977			1,914			1,997			1,935			1,843			7,689			3
% Pharmaceutical Sales	24.2		%	23.6		%	23.0		%	20.5		%	20.7		%	21.9		%
Japan	688			620			673			812			659			2,764			11
% Pharmaceutical Sales	8.4		%	7.7		%	7.7		%	8.6		%	7.4		%	7.9		%
Asia Pacific	889			806			890			914			912			3,522			10
% Pharmaceutical Sales	10.9		%	9.9		%	10.2		%	9.7		%	10.2		%	10.0		%
China	328			337			353			350			333			1,374			-3
Latin America	375			359			430			448			538			1,776			5
% Pharmaceutical Sales	4.6		%	4.4		%	4.9		%	4.7		%	6.0		%	5.1		%
Eastern Europe/Middle East Africa	255			272			314			364			429			1,379			-6
% Pharmaceutical Sales	3.1		%	3.4		%	3.6		%	3.9		%	4.8		%	3.9		%
Canada	182			147			170			184			180			682			23
% Pharmaceutical Sales	2.2		%	1.8		%	2.0		%	1.9		%	2.0		%	1.9		%
Other	58			73			57			76			61			266			-21
% Pharmaceutical Sales	0.7		%	0.9		%	0.7		%	0.8		%	0.7		%	0.8		%

(1)Europe primarily represents all European Union countries and the European Union accession markets.

MERCK & CO., INC.

OTHER (INCOME) EXPENSE, NET - GAAP

(AMOUNTS IN MILLIONS)

(UNAUDITED)
Table 4

OTHER (INCOME) EXPENSE, NET

	1Q17			1Q16
INTEREST INCOME	$	(97	)	$	(79	)
INTEREST EXPENSE	182			172
EXCHANGE (GAINS) LOSSES	(8		)	38
EQUITY LOSS (INCOME) FROM AFFILIATES	13			(34		)
Other, net	(32		)	(49		)
TOTAL	$	58		$	48