Merck's full-year 2025 revenue guidance fell short of what some analysts were expecting, at a range of $64.1 billion to $65.6 billion.

Merck said on Tuesday it would not ship its HPV vaccine Gardasil in China until at least the middle of this year due to weak discretionary spending, a move that dented its full-year forecast and sent shares tumbling over 8% in premarket trading.

Shares of Merck are sliding in early trading after the drugmaker surprised Wall Street with a lower-than-expected 2025 sales forecast due partly to a pause in shipments of one of its top-selling products to China.