Merck & Co.
ScientiaVision Competitor Close-up: Merck & Company, Inc.
| Publication Date | December 2008 |
| Publisher | Scientia Veritas |
| Product Type | Report |
| Pages | 70 |
| ISBN Number | not applicable |
| Product Code | STV00002 |
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Summary
While Merck was the world’s leading healthcare company until it sold Medco Health Solutions in 2003, the company has seen numerous setbacks over the last five years, primarily in the form of the Vioxx (rofecoxib) withdrawal and in significant patent expirations. In 2003, Vioxx was Merck’s third-leading product in terms of sales, with over $2.5 billion. While the loss of Vioxx sales was a significant blow, Merck was further hit by the patent expirations of Zocor in 2006, the benign prostatic hyperplasia (BPH) indication for Proscar in 2006, the Fosamax patent in February 2008, and Cosopt/Trusopt (dorzolamide hydrochloride; ophthalmic) in October 2008. Merck is taking aggressive action to counteract its challenges. With public displeasure over pharmaceutical costs, increasing competition from newly merged and streamlined pharmaceutical companies, a more global pharmaceutical market, pressures from insurers, the Vioxx withdrawal, and numerous patent expirations, Merck has been continually restructuring to improve efficiency and results. While Merck has been mentioned as a merger or takeover candidate, particularly after the 2004 withdrawal of Vioxx, the company has been implementing measures to lower costs, improve its pipeline, and expedite the approval process. The program began paying off in 2007 in the form of increased revenues generated in large part by global sales of Gardasil, Merck’s cervical cancer vaccine; Januvia (sitagliptan phosphate) diabetes drug; and RotaTeq rotavirus vaccine. The program also paid off with approvals of Janumet and Isentress in 2007 and a new formulation of Emend in January 2008.
Merck’s future depends on its being able to bring safe and effective new pharmaceuticals and vaccines to the market quickly, leverage past research by adding line extensions, license or acquire research and technologies from other companies, cut costs, and rebuild its reputation. Merck has significant challenges ahead as it loses patent protection on its biggest-selling drugs over the next few years, so it is imperative that Merck make up lost sales with new products. Merck will have to balance the requirement to get new products on the market with the equally important needs to proceed through the development process carefully and avoid missteps, as well as to rebuild its reputation for integrity and dependability.
Contents
1 HISTORY
2 CURRENT STATUS
2.1 Challenges
2.2 Corporate Strategies
2.2.1 Restructuring
2.2.2 Development and Distribution of Pharmaceuticals and Vaccines
2.3 Acquisitions
3 CORPORATE LEADERSHIP
4 FINANCIAL INFORMATION
4.1 Methodology and Notes to Tables
4.2 Sales of Leading Products
4.3 Sales of Products Through Joint Ventures
4.4 Net Sales and Segment Revenues
4.5 Segment Profits and Income
4.6 Retained Earnings
4.7 Consolidated Sales, Costs, Expenses, and Other
4.8 Geographic Revenues
4.9 Affiliate Relationships
4.10 Assets and Liabilities
4.11 Cash Flows
4.12 Year-end Position and Statistics
4.13 Merck Stock Prices
5 2008 FINANCIAL INFORMATION
5.1 Sales of Leading Products
5.2 Sales of Selected Products Through Joint Ventures
5.3 Consolidated Results
5.4 Equity Income from Affiliates
6 PRODUCT LINES
6.1 Product Approvals
6.2 Pharmaceuticals
6.3 Vaccines
6.4 In the Pipeline
6.5 Research and Development Expenditures
7 JOINT VENTURES
7.1 Johnson & Johnson · Merck Consumer Pharmaceuticals Company
7.2 AstraZeneca LP
7.3 Sanofi Pasteur MSD
7.4 Merial Limited
7.5 Merck Schering-Plough
8 FORECAST
LIST OF EXHIBITS
EXHIBIT 1: PRETAX CHARGES FOR GLOBAL RESTRUCTURING PROGRAM, BY TYPE, 2005 TO 2007
EXHIBIT 2: MERCK SALES OF LEADING PRODUCTS, 2003 TO 2007
EXHIBIT 3: MERCK SALES OF SELECTED PRODUCTS THROUGH JOINT VENTURES, 1998 TO 2007
EXHIBIT 4: MERCK'S HEALTHCARE RANKING, SALES, AND REVENUES, BY CATEGORY, 1998 TO 2007
EXHIBIT 5: RECONCILIATION OF SEGMENT REVENUES TO CONSOLIDATED SALES, 1998 TO 2007
EXHIBIT 6: MERCK SEGMENT PROFITS AND INCOME, BY CATEGORY, 1998 TO 2007
EXHIBIT 7: MERCK RECONCILIATION OF TOTAL SEGMENT PROFITS TO CONSOLIDATED INCOME BEFORE TAXES, 1998 TO 2007
EXHIBIT 8: MERCK SEGMENT REVENUES AND SEGMENT PROFITS, 1998 TO 2007
EXHIBIT 9: MERCK INCOME AND EARNINGS, 1998 TO 2007
EXHIBIT 10: MERCK RETAINED EARNINGS, 1998 TO 2007
EXHIBIT 11: MERCK COMPARISON OF CONSOLIDATED SALES WITH COSTS, EXPENSES, AND OTHER COSTS, 1998 TO 2007
EXHIBIT 12: MERCK GEOGRAPHIC REVENUES (EXCLUDING MERCK-MEDCO), BY REGION, 1998 TO 2007
EXHIBIT 13: MERCK FINANCIAL INFORMATION FOR AFFILIATE RELATIONSHIPS, 1998 TO 2007
EXHIBIT 14: MERCK ASSETS, BY CATEGORY, 1998 TO 2007
EXHIBIT 15: MERCK LIABILITIES AND STOCKHOLDERS' EQUITY, BY CATEGORY, 1998 TO 2007
EXHIBIT 16: MERCK CASH FLOWS, BY CATEGORY, 1998 TO 2007
EXHIBIT 17: MERCK YEAR-END POSITION AND STATISTICS, 1998 TO 2007
EXHIBIT 18: MERCK STOCK PRICES, 1998 TO 2007
EXHIBIT 19: MERCK COMMON STOCK PRICES, 2008
EXHIBIT 20: MERCK SALES OF LEADING PRODUCTS, FIRST THREE QUARTERS OF 2008
EXHIBIT 21: MERCK SALES OF LEADING PRODUCTS, THROUGH SEPTEMBER 30, 2008, AND THROUGH SEPTEMBER 30, 2007
EXHIBIT 22: MERCK SALES OF SELECTED PRODUCTS THROUGH SELECTED JOINT VENTURES, THROUGH SEPTEMBER 30, 2008
EXHIBIT 23: MERCK CONSOLIDATED RESULTS, THROUGH SEPTEMBER 30, 2008
EXHIBIT 24: MERCK EQUITY INCOME FROM AFFILIATES, THROUGH SEPTEMBER 30, 2008, AND THROUGH SEPTEMBER 30, 2007
EXHIBIT 25: MERCK RESEARCH AND DEVELOPMENT EXPENDITURES, 1998 TO 2007
