Merck & Co updates on near-term opportunities and strategy

US pharma giant Merck & Co (NYSE:MRK), which has just sold its consumer health care business to Bayer (BAYN: DE) for $14.2 billion and entered into a cardiovascular collaboration with the German drug major (The Pharma Letter May 6), yesterday hosted an Investor Briefing where it highlighted progress on its strategic initiative to sharpen its commercial and R&D focus and drive growth and productivity.

Merck said it has implemented a focused, more agile operating model and a more flexible cost structure in order to drive growth and productivity for the long term. This has allowed the company to reduce costs, while at the same time take proactive steps to further sharpen its R&D and commercial focus and bolster its innovative pipeline. This includes greater integration between the company’s commercial and R&D organizations and improved therapeutic, pipeline and market prioritization to focus on the best opportunities for growth.

“We’re focusing on improving our growth opportunities by investing in the right programs, products and markets,” said Kenneth Frazier, chairman and chief executive, noting that “Merck is about translating cutting-edge science into medicines and vaccines that save and improve lives throughout the world. By bringing to market new products that make a meaningful difference to patients, payers and providers, we’ll continue to drive value for our shareholders and society.”