About Company
Merck & Co., Inc. is a US-based transnational pharmaceutical corporation with its central office in Rahway, New Jersey. The name originated from the Merck Group, set up in 1668 in Germany. Formerly, it served as the US arm of the German firm.
The organization carries out commercial operations with the name MSD or Merck, Sharp & Dohme beyond Canada and the United States. Merck ranks as one of the top pharma businesses in the world. It usually ranks among the worldwide top 5 in terms of sales.
Initially, Merck & Co. came into existence as the US associate of the Merck Group in 1891.
Merck formulates and manufactures medications, vaccines, animal health items, and biological remedies.
It has several blockbuster drugs or items each with 2020 returns such as anti-diabetic medication, cancer immunotherapy, and chickenpox and HPV vaccines.
The company achieved the 71st rank in the Fortune 500 magazine released in 2022 and the 87th rank in the Forbes Global 2000 published in 2022. Both ranks were established on revenues earned in 2021.
What type of company is Merck & Co, Inc.?
Merck is a publicly-traded company.
To which industry does Merck belong?
Merck & Co., Inc. belongs to the pharmaceutical industry.
When did Merck come into action?
The company started operations in January 1891. This was 132 years back and at that point, the company was a Merck subsidiary (established 1668).
The company got incorporated as an independent company in 1917.
Who are the originators of Merck?
Given below are the names of the originators of Merck:
- George Merck
- Theodore Weicker
Where is the headquarters of the company?
The company has its main office in Rahway, New Jersey, the United States.
Which area does the company serve?
The company has a worldwide client base.
Who are the key people running Merck?
Robert M. Davis is the current CEO, President, and Executive Chairman of the company.
What products does Merck offer?
Merck offers the following products:
- Generic drugs
- Pharmaceuticals
- Vaccines
- Over-the-counter medications
- Veterinary drug
- Contact lenses
- Diagnostics
Merck formulates vaccines, medications, animal health goods, and biological remedies. In 2020, the drug maker featured six blockbuster drugs or merchandise, each with more than US $1 billion in sales:
- Keytruda (generic name pembrolizumab) – A cultivated antibody with applications in cancer immunotherapy that earned US $14.3 billion as sales in 2020;
- Gardasil – It is an HPV vaccine that in 2020 earned revenue worth US $3.9 billion;
- Januvia (generic name sitagliptin) – An anti-diabetic drug applied to cure type 2 diabetes and the revenue earned in 2020 was US $5.3 billion;
- Bridion (also called Sugammadex) – It is a neuromuscular-blocking medication that in 2020 garnered revenue worth US $1.2 billion;
- Varivax – It is a varicella vaccine applied to safeguard from chickenpox and in 2020 it earned revenues worth US $1.9 billion;
- Pneumovax 23 – It is a pneumococcal polysaccharide vaccine that in 2020 achieved revenue worth $1.1 billion.
Other key items made by the firm include the following:
- Isentress (generic name raltegravir) – It is an antiretroviral drug applied to cure HIV/AIDS that in 2020 earned revenue of US $857 million
- RotaTeq – It is a rotavirus vaccine that in 2020 earned revenue of US $797 million;
- Simponi (generic name golimumab) – It is a human monoclonal antibody utilized in the form of an immunosuppressive medication that in 2020 earned revenue worth US $838 million;
- Lynparza (generic name olaparib) – It is a drug for the sustenance therapy of BRCA-mutated advanced-stage ovarian carcinoma in grown-up individuals that in 2020 produced revenue worth US $725 million for the firm.
Particulars of the key products of the firm are given below:
- Zetia (generic name ezetimibe) – It is a medication for hypercholesterolemia that functions by suppressing the assimilation of dietetic cholesterol.
- Januvia (generic name sitagliptin) – It is a dipeptidyl peptidase IV inhibitor used for curing type 2 diabetes. Januvia ranked as the 2nd top-selling diabetes medication globally in 2013. Typically, Januvia metformin has applications as a combination drug with anti-diabetes medicine (generic).
- Gardasil (a recombinant human papillomavirus vaccine) – It is a vaccine used against various serovars of HPV (human papillomavirus), which is accountable for the maximum instances of cervical carcinoma globally.
- Remicade (infliximab) – It is a monoclonal antibody aimed at the cytokine TNF-alpha and has applications in the management of a broad variety of autoimmune diseases such as Crohn’s disease, rheumatoid arthritis, plaque psoriasis, ankylosing spondylitis, and others.
- Keytruda (generic name pembrolizumab) – It functions as an immune modulator for carcinogenic therapy. On 4th September 2014, the FDA (US Food and Drug Administration) sanctioned MK-3475 (Pembrolizumab) in the form of an innovative remedy for curing melanoma.
- Isentress (generic name raltegravir) – It is a human immunodeficiency virus integrase inhibitor used for curing HIV transmission. It is the oldest anti-HIV chemical compound with this method of activity.
- Mexsana – It is an antibacterial medicined powder.
- Invanz (also known as Ertapenem) – It is an injectable antibiotic medication, and Merck has had proprietorship rights to this drug since 1999. The company got embroiled in a legal issue with Savior Lifetec, a Taiwan-based firm over their endeavor to obtain rights for marketing a generic medicine variant in the US.
- Molnupiravir – It is an antiviral agent for curing COVID-19, designed in collaboration with Ridgeback Biotherapeutics.
- Mectizan (generic name ivermectin) – It is an anti-parasitic drug with conventional applications to heal river blindness. It serves as the focal point of the Mectizan Donation Program by Merck. Merck has contributed dosages of the medication for curing millions of inhabitants in nations like African countries and Yemen.
The Merck Manuals
The company releases The Merck Manuals, which is a collection of healthcare reference books for nurses, doctors, vets, and technicians. These incorporate the best-seller healthcare reference in the world, the Merck Manual of Diagnosis and Therapy. Merck & Co. kept on releasing the Merck Index, a publication of chemical compounds, till the time of its acquisition in 2012 by the Royal Society of Chemistry.
How many employees work for Merck?
As of 2022, Merck has a manpower of 69,000.
Merck chronology
1891
The establishment of Merck & Co. took place in the United States on 1st January 1891. The founder was George Merck and he was just 23 at that time.
1899
The release of the first Merck Manual took place this year.
1925
George W. Merck, the son of George Merck, became the president of the organization.
1933
The Merck Research Laboratory came into existence in Rahway, New Jersey. It featured three distinct arms: Applied Research, the Merck Institute for Therapeutic Research, and Pure Research.
1936
The first synthesis of vitamin B₁ by Merck became possible. The company printed the outcomes in the Journal of the American Chemical Society.
1940s
The company sponsored the invention and supply of streptomycin, a breakthrough antibiotic drug. Contributors to the research were Dr. Albert Schatz and Dr. Selman Waksman.
1948
Sulfaquinoxaline helped Merck foray into the animal health marketplace.
1950
The first commercial-grade synthesis of Cortisone took place. It has applications in curing rheumatoid fever, rheumatoid arthritis, and other associated chronic ailments.
1953
Merck amalgamated with Sharp & Dohme.
1957
The setting up of the Merck Foundation happened. It is a non-profit philanthropic organization with a preliminary donation of US $500,000.
1958
The introduction of DIURIL (generic name chlorothiazide) to cure hypertension took place.
1970s
The invention of the therapy for trichinosis for animals took place.
1971
Merck commenced administering the M-M-R (measles-mumps-rubella) vaccine. Dr. Eugene B. Buynak and Maurice Hilleman formulated this vaccine.
1977
The 1st pneumonia vaccine achieved endorsement. The name was pneumococcal vaccine polyvalent or PNEUMOVAX.
1978
FDA (the United States Food and Drug Administration) okayed Mefoxin.
1985
The FDA sanctioned VASOTEC. It is an ACE (angiotensin-converting enzyme) inhibitor for curing congestive heart failure and hypertension.
1986
The FDA sanctioned Hepatitis B vaccine. Its name was RECOMBIVAX HB and it was the first recombinant vaccine for application in humans.
1987
Merck launched the 1st commercial-grade statin.
Merck dedicatedly contributed Mectizan – to the extent that is required on a desirable condition – intending to eradicate river blindness.
1996
The FDA okayed Crixivan (generic name indinavir sulfate) for curing human immunodeficiency virus.
1998
The FDA okayed SINGULAIR (generic name montelukast sodium) for preventing and curing asthma.
2006
The FDA green-lighted JANUVIA (generic name sitagliptin). It is a DPP-4 inhibitor for curing type 2 diabetes.
The FDA sanctioned GARDASIL. It is a recombinant human papillomavirus quadrivalent vaccine for preventing cervical carcinoma induced by particular HPV forms (variants 6, 11, 16, and 18).
2009
The merger between Schering-Plough and Merck took place and joint operations commenced.
2011
The Global Merck for Mothers campaign started.
2014
The FDA okayed BRAVECTO for the Merck Animal Health arm.
Merck obtained the speedy authorization of KEYTRUDA (generic name pembrolizumab).
2019
The FDA okayed ERVEBO® for preventing Zaire ebolavirus in adults.
Legal proceedings and disputes
a) Vioxx – There were allegations that there was a higher chance of heart attacks related to the Vioxx application. Consequently, the company started tagging the probable cardiovascular risk factors in 2002.
b) Fosamax – There was a class action lawsuit with accusations that the osteoporosis medication had resulted in the development of osteonecrosis of the jaw. In 2013 December, the company consented to pay a hefty compensation to the petitioners.
c) Medicaid overbilling
Whistleblowers took the help of the False Claims Act to sue the company. There were allegations that the firm did not provide suitable discounts to Medicaid and other healthcare plan subscribers.
d) Legal disagreement related to its name
In Canada and the United States, the company possesses the rights to the brand name “Merck”. However, in other parts of the world, the organization markets its merchandise with the name MSD. It is a short form of Merck, Sharp & Dohme.
e) Taxation fraud
Between 1993-2001, there were charges of overseas tax evasion against the company. It paid US $2.3 billion to resolve the charges in 2007.
f) Propecia
Reuters conducted a probe in 2021, which disclosed that Propecia, the company’s medication for curing hair loss developed continual sexual dysfunction in men. Furthermore, the medication has been associated with more than 700 occurrences of suicidal notions and 110 fatalities.
g) Ecological infringements
The company also faced censure for its usage of methylene chloride, which features as an animal carcinogenic substance in the list of toxins published by the United States Environmental Protection Agency.
Merck stock performance
The common stocks of Merck & Co., Inc. are traded on the New York Stock Exchange (NYSE) with the ticker symbol MRK. Besides, the stock is a constituent of the following indices:
- DJIA (Dow Jones Industrial Average)
- Standard & Poor 500
- Standard & Poor 100
On June 1, 2023, Merck & Co, Inc. (MRK) closed trading on the New York Stock Exchange at $110.93 with the data furnished below at 04:03 pm EDT (Eastern Daylight Time).
Stock chart
Merck Financial Performance
Non-GAAP financial results summary for continuing operations (Q1 2023) (in billion US $, other than EPS figures):
