Merck Changes
Merck has been in the midst of a year old program to boost revenues and cut costs in order to transform the company into a more competitive company.
Merck Reports Progress on Overhaul:
Merck this year on launched five new vaccines including the first ever cancer vaccine. I’ve posted about Gardasil previously and refer you to those posts if you are interested in that vaccine. I think it will be one of their bigger drivers of revenue in the coming years. Merck has also cut 3,900 jobs on the way to cutting 9,000 jobs world-wide and sold several of their manufacturing plants. They also have a fairly strong pipeline with several products awaiting approval and several more in late stage development. Overall, accept for the long drawn out Vioxx cases, the future looks fairly bright.
I think this may be what needs to happen to Merck but I also feel for those people who are affected by this. I know some folks who work their and it is unnerving until things settle down as to wether or not you may have a job. I also wonder if in the midst of the mega-mergers if Merck can continue o its own. Merck has always had a history of avoiding the M&A mania but given the changing climate in the pharmaceutical I’m not sure how long they can continue on that course.
The main thing hold Merck back right now though is the Vioxx lawsuits. While Merck has come out ahead in the trials so far, continuing to fight each os these individually will be a drag on the company for several years to come.
Technorati Tags: Gardasil, Merck
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