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    Merck & Co Inc (MRK)

    Board Change

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    Merck & Co., Inc. (Merck) is a global healthcare company that operates through two main segments: Pharmaceutical and Animal Health. The company develops and sells human health pharmaceutical and vaccine products, primarily by prescription, for the treatment of human disorders, as well as veterinary pharmaceutical and vaccine products for livestock and companion animals . Merck's revenue growth is driven by strong performance in oncology, vaccines, and animal health, with significant contributions from products like Keytruda and Gardasil/Gardasil 9 .

    1. Pharmaceutical - Develops and sells human health pharmaceutical and vaccine products, primarily by prescription, for the treatment of human disorders. Key products include Keytruda and Gardasil/Gardasil 9, which are major contributors to revenue growth.
    2. Animal Health - Focuses on veterinary pharmaceutical and vaccine products, as well as health management solutions for livestock and companion animals. Includes digitally connected identification, traceability, and monitoring products.
      • Livestock Products - Provides pharmaceutical and vaccine products for livestock health management.
      • Companion Animal Products - Offers pharmaceutical and vaccine products for the health of companion animals.
    NamePositionStart DateShort Bio
    Robert M. DavisChairman, Chief Executive Officer, and PresidentDecember 2022Robert M. Davis is the Chairman, Chief Executive Officer, and President of Merck & Co., Inc., roles he has held since December 2022. He joined Merck in 2014 and has held various leadership roles .
    Caroline LitchfieldExecutive Vice President and Chief Financial OfficerApril 2021Caroline Litchfield is the Executive Vice President and Chief Financial Officer at Merck & Co., Inc., a position she has held since April 2021. She was previously the Senior Vice President, Corporate Treasurer .
    Sanat ChattopadhyayExecutive Vice President and President, Merck Manufacturing DivisionMarch 2016Sanat Chattopadhyay is the Executive Vice President and President of the Merck Manufacturing Division, a position he has held since March 2016. He oversees Merck's global manufacturing operations .
    Richard R. DeLuca, Jr.Executive Vice President and President, Merck Animal HealthSeptember 2011Richard R. DeLuca, Jr. is the Executive Vice President and President of Merck Animal Health, a position he has held since September 2011. He has contributed significantly to the company's operations and growth in the animal health sector .
    Dean Li, M.D., Ph.D.Executive Vice President and President, Merck Research LaboratoriesJanuary 2021Dean Li, M.D., Ph.D., is the Executive Vice President and President of Merck Research Laboratories, a position he has held since January 2021. He was previously the Senior Vice President of Discovery Sciences and Translational Medicine .
    Cristal DowningExecutive Vice President and Chief Communications & Public Affairs OfficerAugust 2021Cristal Downing is the Executive Vice President and Chief Communications & Public Affairs Officer at Merck & Co., Inc., a position she has held since August 2021. She previously worked at Johnson & Johnson .
    Chirfi GuindoSenior Vice President, Chief Marketing Officer, Human HealthJuly 2022Chirfi Guindo serves as the Senior Vice President and Chief Marketing Officer, Human Health at Merck & Co., Inc. since July 1, 2022. He was previously at Biogen Inc. .
    Michael A. KlobucharExecutive Vice President, Chief Strategy OfficerJuly 2021Michael A. Klobuchar is the Executive Vice President and Chief Strategy Officer at Merck & Co., Inc., a position he has held since July 2021. He has held various strategic roles within the company .
    Steven C. MizellExecutive Vice President, Chief Human Resources OfficerOctober 2018Steven C. Mizell has served as the Executive Vice President and Chief Human Resources Officer at Merck & Co., Inc. since October 2018. He is set to retire effective July 1, 2024 .
    Johannes J. OosthuizenSenior Vice President and President Merck U.S. Human HealthJanuary 2022Johannes J. Oosthuizen is the Senior Vice President and President of Merck U.S. Human Health, a position he has held since January 2022. He previously led Global Oncology Commercial .
    Joseph RomanelliSenior Vice President and President MSD International Human HealthJuly 2022Joseph Romanelli is the Senior Vice President and President of MSD International Human Health at Merck & Co., Inc. since July 2022. He was previously CEO at JiXing Pharmaceuticals .
    Dalton SmartSenior Vice President Finance – Global ControllerDecember 2023Dalton Smart is the Senior Vice President Finance – Global Controller at Merck & Co., Inc. since December 2023. He was previously Vice President, Assistant Controller .
    David M. WilliamsExecutive Vice President, Chief Information and Digital OfficerAugust 2020David M. Williams is the Executive Vice President, Chief Information and Digital Officer at Merck & Co., Inc. since August 2020. He previously served as Acting Chief Information and Digital Officer .
    Jennifer ZacharyExecutive Vice President and General CounselApril 2018Jennifer Zachary has been serving as the Executive Vice President and General Counsel at Merck & Co., Inc. since April 2018. She also holds the position of Corporate Secretary since January 2020 .
    1. "You've mentioned that GARDASIL shipments to your partner in China have decreased and that inventory at Zhifei remains above historical levels ; what specific strategies are you implementing to address the demand challenges in China, and how confident are you in achieving your goal of over $11 billion in GARDASIL sales by 2030 ?"
    2. "Operating expenses have increased significantly due to strategic investments and charges related to acquisitions like EyeBio and Curon ; can you provide more detail on how these investments will contribute to your long-term growth and justify the increased expenditure ?"
    3. "Given the decline in GARDASIL sales in China and the anticipated similar level of shipments in the fourth quarter , how do you plan to mitigate the impact on your overall revenue growth and what other markets are you focusing on to offset this shortfall ?"
    4. "You have stated that your Phase III pipeline has nearly tripled over the past three years to more than 20 unique assets ; can you elaborate on the timing of these assets reaching the market and how they will contribute to revenue in the face of upcoming patent expirations, especially for KEYTRUDA ?"
    5. "In terms of capital allocation, you mentioned you have capacity to do 'pretty much anything of any size' but are focusing on deals in the $1 billion to $15 billion range ; with the increasing competition in the obesity market, why are you limiting your deal size, and how will this approach enable you to remain competitive in high-growth therapeutic areas ?"
    Program DetailsProgram 1
    Approval DateOctober 2018
    End Date/DurationNo time limit
    Total additional amount$10 billion
    Remaining authorization amount$2.9 billion
    DetailsPart of capital allocation strategy to provide competitive returns to shareholders through dividends and share repurchases. Focus on business development and avoiding excess cash on the balance sheet.

    Competitors mentioned in the company's latest 10K filing.

    • AbbVie Inc. - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Amgen Inc. - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • AstraZeneca plc - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Bristol-Myers Squibb Company - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Johnson & Johnson - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Eli Lilly and Company - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Gilead Sciences Inc. - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • GlaxoSmithKline plc - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Novartis AG - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Pfizer Inc. - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Roche Holding AG - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    • Sanofi SA - Part of the composite peer group of major U.S. and European-based pharmaceutical companies .
    CustomerRelationshipSegmentDetails
    McKesson Corporation
    Major drug wholesaler & distributor
    All
    21% of total accounts receivable
    Cencora, Inc.
    Major drug wholesaler & distributor
    All
    20% of total accounts receivable
    Cardinal Health, Inc.
    Major drug wholesaler & distributor
    All
    14% of total accounts receivable
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2002 PresentCurrent auditor

    Recent developments and announcements about MRK.

    Corporate Leadership

      Board Change

      ·
      Nov 22, 2024, 8:01 PM

      Surendralal L. 'Lal' Karsanbhai has been elected to the Merck Board of Directors, effective January 1, 2025. He will also serve on the Audit and Governance Committees. Mr. Karsanbhai is currently the President and CEO of Emerson Electric Co. and will stand for election by Merck's shareholders in May 2025. With his addition, the board will consist of 13 members .