July 7, 2016 |
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.
July 1, 2016 |
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.
June 18, 2016 |
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.
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.
April 20, 2016 |
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.
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.
October 28, 2015 |
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)
October 6, 2015 |
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.
August 21, 2015 |
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.
August 16, 2015 |
Merck & Co. has cut 1,950 jobs in the first six months of the year as part of two cost-cutting programs announced in 2010 and 2013, and the near-term pain might not be over. When the massive layoff rounds overlap, the accounting can be more complicated. That was evident in the quarterly statement filed by Merck with the Securities and Exchange Commission. Merck said in the SEC filing that 1,210 jobs or vacancies likely will be displaced via one program in the last six months of 2015.