November 4, 2012 |
Merck & Co. Inc., which made the controversial arthritis painkiller Vioxx, just settled an unusual class-action lawsuit involving Missouri residents who sued on consumer-fraud grounds without having shown that they incurred physical harm. The economic argument was that Vioxx did not provide what Merck claimed it would. Vioxx was on the market from 1999 until it was withdrawn in 2004 because previously hidden clinical trials showed that it caused increased risk of heart attacks. Merck has large operations in the Philadelphia region.
July 13, 2006 |
Bradley T. Sheares, the U.S. marketing chief of Merck & Co. Inc., has been replaced in a shake-up of the drugmaker's marketing division, the company said yesterday. Sheares, based in Upper Gwynedd, Montgomery County, was succeeded by Adam Schechter, current general manager of Merck's joint venture with Schering-Plough Corp., said spokesman Raymond Kerins. The shuffle at Merck U.S. Human Health came two months after chief executive Richard Clark installed a new global marketing chief, Peter Loescher, as part of a restructuring prompted largely by the Vioxx recall and litigation.
July 11, 2011
Merck Inc., with headquarters in Whitehouse Station, N.J., and operations in the Philadelphia suburbs, said Monday that company researchers will collaborate with the University of North Carolina-Chapel Hill, the University of California-San Francisco and seven other academic institutions to develop new approaches toward eradicating HIV, the virus that causes AIDS. The National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health, is the primary funding organization, though Merck will not receive any funding for its participation.
August 2, 1990 |
Officials for the pharmaceutical giant Merck & Co. say there are just barely enough parking spaces for their 4,600 employees now. When the company's planned expansion is finished in 1993, there will be 700 more people working there and they will need a place to park. So Merck went before the Zoning Hearing Board of Upper Gwynedd Township on Tuesday to ask for variances that would allow for the construction of a new lot and the expansion of an old one. "We've always felt that we've been playing catch-up in parking," Joseph J. Salvia, manager of facilities area engineering for Merck, said in an interview after the hearing.
December 16, 2005 |
Merck & Co. Inc. presented details yesterday of an ambitious restructuring campaign it hopes will restore its once-vaunted position, including narrowing its research priorities and reducing sales calls on physicians. The New Jersey company, with about a fifth of its global workforce of 63,000 based in the suburbs of Philadelphia, said total cutbacks over the next five years should be worth $4.5 billion to $5 billion - $1 billion more than it first announced last month. It also pledged to reverse its slide in earnings starting in 2007 and hit "double-digit" compounded annual growth in earnings in following years.
April 5, 2011
Merck & Co. Inc., a Whitehouse Station, N.J., pharmaceutical giant with major operations in Montgomery County, said today that it had agreed to pay $430 million for Inspire Pharmaceuticals Inc. of Raleigh, N.C., which specializes in medicines for eye diseases. Boards of directors for both companies as well as Inspire's largest shareholder, Warburg Pincus Private Equity IX L.P., have approved the deal, which values Inspire at $5 a share, a 26 percent premium over Inspire's Monday close.
October 7, 2011
The Food and Drug Administration approved the first combination drug to treat type 2 diabetes and high cholesterol in one tablet. Merck & Co. Inc.'s Juvisync combines two previously approved prescription medicines in one tablet for adults who need both sitagliptin and simvastatin. About 20 million Americans have type 2 diabetes and many have high cholesterol. - David Sell
July 18, 2011
Merck said it received approval from the European Commission for doctors to prescribe Victrelis (chemical name boceprevir) to patients with hepatitis C. The drug is used with two other drugs to treat adults with liver diseases caused by the virus. An estimated four million people in Europe have hepatitis C. The commission decision allows Merck to market the drug for the specified purpose in 27 European Union countries and European Economic Area members Iceland, Liechtenstein and Norway.
September 20, 2011 |
Merck & Co. will lay off personnel by the end of October, according to a company e-mail to staff, as the pharmaceutical giant continues cutting its workforce. The company, with about 12,000 workers in the Philadelphia area, said July 29 that it planned to cut 12 percent to 13 percent of its workforce of about 100,000 by 2015 as it adjusts to market conditions and its 2009 acquisition of Schering Plough. "Merck is facing enormous challenges," U.S. Market president Mark Timney said in an e-mail Thursday to staff that was obtained by The Inquirer.
April 22, 2005 |
Still suffering from its Vioxx withdrawal, Merck & Co. Inc. said yesterday that profit fell 15 percent in the first quarter this year. Net income declined to $1.37 billion from $1.62 billion. Earnings per share were down 11 cents to 62 cents. Worldwide sales slipped 5 percent to $5.36 billion, from $5.63 billion a year earlier. The news mostly matched expectations on Wall Street, where shares in Merck, based in Whitehouse Station, N.J., with major operations in Montgomery County, closed at $34.28, up 21 cents or 0.62 percent.