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BUSINESS
July 13, 2006 | By Thomas Ginsberg INQUIRER STAFF WRITER
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.
NEWS
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.
NEWS
August 2, 1990 | By Laurie Halse Anderson, Special to The Inquirer
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.
BUSINESS
December 16, 2005 | By Thomas Ginsberg INQUIRER STAFF WRITER
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.
NEWS
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.
NEWS
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
NEWS
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.
BUSINESS
April 22, 2005 | By Thomas Ginsberg INQUIRER STAFF WRITER
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.
BUSINESS
September 18, 2011 | By David Sell, Inquirer Staff Writer
Drug ads with scary-sounding side effects have regularly appeared on TV since 1995, but rarely has a major pharmaceutical company played such an unscripted, prime-time role as Merck did Monday night - a moment that put the klieg lights on corporate political contributions. Minnesota Rep. Michele Bachmann attacked fellow Republican presidential candidate Rick Perry during the GOP debate over the Texas governor's 2007 decision to have young girls inoculated against a virus that can contribute to cervical cancer.
BUSINESS
July 18, 1997 | By Donna Shaw, INQUIRER STAFF WRITER
Shares of Merck & Co. Inc. rose more than 8 percent yesterday after the Whitehouse Station, N.J., pharmaceutical company announced better-than-expected profits for the second quarter. Investors also were encouraged that Merck's cholesterol-lowering drug Zocor was holding up against intense competition, although the rate by which it is growing is slowing. Even so, the number of patients taking the drug has doubled to almost 7 million worldwide, the company said. Net income rose 19 percent to $1.15 billion, or 96 cents a share, beating the average estimate of 95 cents a share from a survey of 30 analysts.
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NEWS
September 9, 2016 | By Linda Loyd, STAFF WRITER
Merck & Co. said the Food and Drug Administration is reviewing its immunotherapy cancer drug Keytruda as a first-line treatment for patients with advanced lung cancer. The FDA has assigned "priority review" and designated it as a "breakthrough therapy" with a target action date of Dec. 24, the company said. Keytruda, a monoclonal antibody that works by increasing the ability of the body's immune system to help detect and fight tumor cells, is already approved as a second-line treatment for patients who have undergone chemotherapy for advanced non-small-cell lung cancer, and whose condition worsens.
BUSINESS
July 7, 2016 | By Linda Loyd, STAFF WRITER
Drug maker Merck said that it will acquire a controlling interest in Vallée S.A., a private producer of animal health products in Brazil. Under the terms, Merck's animal health business in Madison, N.J. will acquire 93 percent of Vallée for $400 million, based on current exchange rates. The agreement is subject to regulatory review. Under the deal, Vallée's portfolio of more than 100 products including parasiticides, anti-infectives and vaccines for livestock, horses, and companion animals, will be combined with Merck's animal-health division.
BUSINESS
July 1, 2016 | By Linda Loyd, STAFF WRITER
Drug maker Merck announced Wednesday a licensing agreement with a suburban Boston biotech company to develop and commercialize personalized cancer vaccines. Merck, which employs 9,200 in Montgomery County, will pay Moderna Therapeutics Inc. $200 million in cash. The Cambridge, Mass. company will do early research and development of its protein therapies based on "messenger RNA" or mRNA technology, which targets the unique properties of an individual's cancer, and carry development into clinical trials.
BUSINESS
June 18, 2016 | By Linda Loyd, Staff Writer
Shares of Merck rose Thursday after the drugmaker said its Keytruda immuno-oncology medicine succeeded in a study of patients with advanced lung cancer and showed a survival advantage over patients given standard chemotherapy. Based on the results, an independent data monitoring board recommended that the clinical trial be stopped and that patients receiving chemotherapy be allowed to switch to the company's treatment. Merck, based in Kenilworth, N.J., employs about 9,200 in West Point and Upper Gwynedd in Montgomery County.
BUSINESS
May 24, 2016
Securities trades recently reported to the Securities and Exchange Commission by officers, directors and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. American Water Works Co. Deborah A. Degillio , officer and treasurer, sold 1,866 shares at $74.29 to $74.31 on May 17, and now directly holds 1,279 shares. Loyd Aldie Warnock , officer, sold 483 shares at $74.46 to $74.50 on May 10, and now directly holds 7,920 shares.
NEWS
April 20, 2016 | By Linda Loyd, STAFF WRITER
Merck & Co. said Mondaythe Food and Drug Administration has granted "breakthrough therapy designation" for its Keytruda medicine to treat relapsed classical Hodgkin lymphoma, a blood cancer. The company said the designation, intended to expedite the development and review of drugs that treat serious or life-threatening diseases or conditions, is the fourth "breakthrough therapy" status for Keytruda, a humanized monoclonal antibody that works by increasing the ability of the body's immune system to help detect and fight tumor cells.
NEWS
February 26, 2016
ISSUE | MEDICINE Merck backs Januvia Type 2 diabetes is a serious condition, and patients should not stop taking any medicine without speaking to a doctor ("Raising alarms," Sunday). The Food and Drug Administration stated in February 2014 that assertions that incretin-based medicines, including Merck & Co.'s Januvia, cause pancreatic cancer were inconsistent with available data. The FDA also said it would continue to monitor the issue. At Merck, we continue to assess the safety of our medicines, including Januvia.
BUSINESS
October 28, 2015 | By David Sell, Inquirer Staff Writer
Drugmaker Merck & Co. said Tuesday its revenue declined but profit rose in the quarter ending Sept. 30, with most of the profit attributable to cost cutting. Merck, which has facilities in New Jersey and Pennsylvania, reported that worldwide revenue declined from $10.5 billion in the third quarter of 2014 to $10.1 billion in the same period of 2015, while profit rose from $895 million to $1.83 billion. The company's report indicated it spent less on costs related to production (11 percent)
NEWS
October 6, 2015 | By Tom Avril, Inquirer Staff Writer
A former Merck & Co. scientist is sharing the Nobel Prize in medicine for helping to discover a treatment for two parasitic diseases that have stricken millions in the developing world. William C. Campbell, 85, who later became a faculty member at Drew University in Madison, N.J., will get the award in Stockholm, Sweden, on Dec. 10 along with Satoshi Omura, a professor emeritus at Kitasato University in Japan. The two each will receive about $240,000 for their success in combating river blindness, caused by a parasite transmitted through the bite of river-dwelling black flies, and elephantiasis, marked by severe swelling and disfigurement of the limbs.
BUSINESS
August 21, 2015 | By David Sell, Inquirer Staff Writer
Tension over past and future layoffs at pharmaceutical giant Merck & Co. spilled into the public domain Tuesday evening as a written exchange between CEO Ken Frazier and a union leader cast doubt on the safety of workers and people living near Merck's factory in West Point, Montgomery County. "I dread but expect the day when someone forced to work a double shift [16 hours] gets in their car after work, drives home, and falls asleep at the wheel, hurting themselves, someone else, or someone else's child," wrote Dan Bangert, a 29-year Merck employee and president of United Steelworkers Union Local 10-00086.
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