Merck & Co updates on plans to accelerate new drug submissions and future growth

US pharma giant Merck & Co (NYSE: MRK) has reported on the ongoing execution of its multi-year, strategic initiative to sharpen its commercial and research and development focus, redesign its operating model and reduce its cost base at the 33rd Annual JP Morgan Healthcare Conference.

In October 2013, Merck launched its global initiative to transform the company into a more competitive and innovative company and to build a platform for sustained future growth.

“Over the past 15 months, we’ve seen the results of our transformation strategy, including advancing major pipeline candidates, completing multiple business development actions and securing first-in-class product approvals,” said Kenneth Frazier, chairman and chief executive of Merck. “As a result of our strong and continued commitment to the pursuit of science and R&D, our labs are focused on many of the most innovative areas in biomedical research today, which we believe is the best way to create intrinsic value for both society and for our shareholders,” he added.