November 21, 2011 |
Dr. Sanford "Sandy" P. Sher, of Chestnut Hill, a retired medical-information specialist for Merck & Co. Inc. and a community activist, died of heart failure at Chestnut Hill Hospital, Sunday, Nov. 13, three days after his 84th birthday. Dr. Sher graduated from Bronx High School of Science in New York. He earned a bachelor's degree and a medical degree from Washington University in St. Louis. He was on the medical-information staff of Smith Kline & French, now GlaxoSmithKline, in Philadelphia when he met his future wife, Dena Gibbs.
December 1, 2010 |
Kenneth C. Frazier, the son of a North Philadelphia janitor, was named Tuesday to lead Merck & Co. Inc., the nation's second-largest drug manufacturer. Frazier, 55, of Upper Makefield, will become Merck's chief executive officer and a member of the board on Jan. 1. He will retain his current title of president. He will succeed Richard T. Clark as chief executive; Clark will remain as chairman of the board. Under Merck's mandatory retirement policy, Clark, 64, was scheduled to step down as chief executive next year.
September 28, 2011
Johnson & Johnson and Merck & Co. agreed to end a 22-year-old joint venture that sold consumer pharmaceutical products such as Pepcid and Mylanta brands. Both companies have big operations in the Philadelphia are. J&J, through its McNeil Consumer Healthcare division, will pay Merck $175 million, continue to market those products in the U.S. and Canada, and take full ownership of the factory in Lancaster. The new name for that business will be McNeil Consumer Pharmaceuticals Co. Merck still keeps rights to those products outside the U.S. and Canada.
March 18, 2011
The Michigan appeals court says the state cannot sue drug maker Merck to try to recover millions of dollars spent on Vioxx, which was pulled from the market in 2004. The court said Friday that Merck is protected by a unique Michigan law that grants immunity to companies if a drug has been approved by federal regulators. The state attorney general's office is trying to recover money spent on behalf of Medicaid recipients who used Vioxx, an arthritis drug that was pulled from the market because of links to heart attack, stroke and death.
August 18, 2010
The Inquirer's article "PRWT to return factory to Merck," published last Wednesday, misstated several facts and inaccurately suggested that PRWT's performance as a manufacturer of active pharmaceutical ingredients for Merck was less than stellar. PRWT, like most small companies in the current United States economy, has found it increasingly difficult to finance current operating and capital expenses and support growth initiatives. The decision to sell the Cherokee plant results directly from the weak economy and "the challenging business environment in the pharmaceutical industry.
August 1, 2002 |
Merck & Co. Inc., citing market conditions, yesterday withdrew the $1 billion initial public offering of its Medco Health Solutions Inc. business. Merck has been trying to spin off the pharmacy benefit management unit, and the company said it still hoped to do so within a year, "subject to market conditions. " Merck spokesman Chris Loder said withdrawing the regulatory filing for the offering was a formality. The registration statement for Medco, of Franklin Lakes, N.J., was filed with the Securities and Exchange Commission on April 17 and amended May 1, May 21, June 13, July 5 and July 9. "If we did not withdraw the statement, Medco would be required to file public filings, even though there are no public stockholders," Loder said.
August 11, 2010 |
It is not as easy as it looks to run a drug manufacturing company. Or so PRWT Services Inc. has discovered. The politically connected Philadelphia firm, which, among other things, runs impoundment lots for the Philadelphia Parking Authority, took a huge leap - and doubled its size - in 2008 when it bought a Merck & Co. Inc. factory in central Pennsylvania that makes bulk chemicals for the pharmaceutical industry. Now, in an extreme case of buyer's remorse, PRWT has persuaded Merck to buy back the Riverside plant just 21/2 years later.
February 24, 2013 |
Merck & Co. Inc., will pay $8.5 million to settle allegations by the Commonwealth of Pennsylvania that the drugmaker inappropriately marketed its controversial painkiller Vioxx, which was withdrawn from the market in 2004. State Attorney General Kathleen G. Kane announced that, after attorneys' fees are paid, $6.9 million will go to the PACE program, which helps low-income seniors buy prescription medicine. Vioxx was first approved by the U.S. Food and Drug Administration in 1999 but was pulled from the market in 2004 amid reports that it was causing health problems, including heart attacks and strokes.
October 9, 2001 |
Officials at Merck & Co. Inc. called them "records retention guidelines" - routine reminders urging employees to manage and reduce the almost unfathomable amount of paperwork generated by the pharmaceutical giant. African American employees, who have filed class-action discrimination lawsuits against Merck in federal courts in Philadelphia and Albany, Ga., saw the July memo as something more sinister: a thinly veiled nudge to bosses to shred records that could hurt Merck in court.
March 21, 2006 |
Merck & Co. Inc. announced it would buy rights to promising compounds that treat pain and other neurological disorders - in a deal worth up to $475 million - from Neuromed Pharmaceuticals Ltd., a Conshohocken company developing pain medicines. The companies said yesterday that Merck would pay an initial $25 million for exclusive rights to Neuromed's experimental drugs, including Neuromed's lead compound, NMED-160, a calcium channel blocker to treat chronic pain in mid-stage Phase 2 clinical trials.