With investors focused almost exclusively on earnings and R&D programs today, Merck quietly managed to slip in news of a setback in its quarterly report, noting that the FDA has rejected its marketing application for the fertility treatment corifollitropin alfa.
Merck surprised Wall Street analysts today when it announced that its net profit in the second quarter jumped to $2 billion from $906 million in the same period a year ago, and that it was raising the lower end of its income forecast for 2014. But it's not exactly time to pop out the champagne corks and declare a successful turnaround.
The job-cutting ax has come out for Merck's U.S. field force, as part of a move to cut 600 positions by August.
Merck's patent cliff has the company struggling to cut costs while it scrambles to make up for lost revenue, and sales and marketing has been no exception. Now, the job-cutting ax has come out for Merck's U.S. field force, where 600 positions will be chopped by August. Most at risk: Pennsylvania-based sales folks focused on declining primary care meds.
It is fascinating what has happened in the last couple of years in the animal health industry, which runs to $22 billion a year for animal drugs and vaccines and is expected to grow at 5.7% compound...
A study carried out the University of Nebraska, Lincoln and the U.S.D.AU Agricultural Research Service found Zilmax had no negative effects on cattle health.
Merck is going through a complete makeover, buying and selling units at a rapid pace. And some of its employees are getting caught in its "out with the old and in with the new" philosophy. Now 600 sales reps have been told their services are no longer needed
Vaccines, which can be complicated and expensive to manufacture, haven't always been the moneymakers they are for some drugmakers today. Last year, the global vaccines market topped $25.56 billion according to Evaluate Pharma, with the world's 6 top-selling shots each cracking the blockbuster barrier.
Gilead Sciences got to the market first with an interferon-free oral hepatitis C fighter, a category projected to hit $20 billion in sales by 2020. Its Sovaldi has been racking up unprecedented sales, and a raft of litigation, as other drugmakers look for a way to get a piece of that action.
Baltimore-based Cerecor has gathered up the first half of a $33 million B round, with plans to devote much of that money to a midstage development program for an experimental depression therapy recently punted by a restructuring Merck.