This is the first regulatory approval of a medicine for the treatment of NF1 PN, a rare and debilitating genetic condition. At the same time, we believe additional resources and focus will help ensure that our expansive portfolio, including many trusted and medically important products, reach their full potential. The spinoff is expected to be completed in the first half of 2021, subject to market and certain other conditions. “Or are we not the optimal owners of some of the products in the portfolio, because they won’t get the resources, they won’t get the attention and focus?”. The spinoff addresses a large market, Frazier said. In June, FDA approved Keytruda as monotherapy for the first-line treatment of patients with unresectable or metastatic microsatellite instability-high or mismatch repair deficient colorectal cancer. 2 only to Humira among all pharmaceutical brands. NewCo to be Comprised of Products from Merck’s Women’s Health, Trusted and Medically Important Legacy Brands and Biosimilars Businesses. The move, announced early Wednesday morning, is meant to focus the remaining company on its fast-growing oncology and vaccine divisions. During September, Merck announced that two Phase III studies evaluating the safety, tolerability and immunogenicity of V114, an investigational 15-valent pneumococcal conjugate vaccine, met their primary immunogenicity objectives. At least three other major drugmakers — Pfizer, GlaxoSmithKline and AstraZenca — have announced plans over the past 14 months to pare off parts of their companies to increase sales and profit growth. Cediranib is an investigational oral vascular endothelial growth factor receptor inhibitor, which blocks the growth of blood vessels supporting tumor growth. Media Contacts: Pamela Eisele (267) 305-3558, Investor Contacts: Peter Dannenbaum (908) 740-1037. The study is currently underway. Ali has led Merck’s enterprise portfolio strategy initiative, reporting to Frazier, for the past year. Company leaders say NewCo will have a portfolio of profitable and trusted brands consisting of dermatology, pain, respiratory, select cardiovascular products including Zetia and Vytorin, as well as the rest of Merck’s Diversified Brands, with strong cash flows that will support investments in future growth opportunities. For all of 2019, Merck posted net income of $9.84 billion, or $3.81 per share, on revenue of $46.84 billion. Merck is cutting weight to focus on the company’s world-beating oncologic and other high-growth-potential products. Kevin Ali, who brings three decades of pharmaceutical commercial experience from within Merck, will be named chief executive officer of NewCo. The post-earnings and spin-off news had Merck’s stock trading down 3% at $85.70 in midday trading on Wednesday. Additionally during May, Merck agreed to acquire Themis, a company focused on vaccines and immune-modulation therapies for infectious diseases and cancer. IAVI and Merck are working together to advance the development and global clinical evaluation of a SARS-CoV-2 vaccine candidate designed and engineered by IAVI scientists. Private Securities Litigation Reform Act of 1995. Shares of Merck (ticker: MRK) were down 3.8% to $85 in premarket trading, although earnings could also be a factor after the company reported lukewarm quarterly results. “We have seen over the past few years the tremendous benefits of focusing our organization around key growth drivers,” Merck CEO Ken Frazier said in an interview shortly after the company announced its plans. NewCo’s earnings before interest, taxes, depreciation, and amortization (EBITDA) margins are expected to be in the low-to-mid 40% range in the first year post separation and increase over time. This expected dividend will be entirely incremental to Merck’s dividend. KENILWORTH, N.J.–(BUSINESS WIRE)–Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced its intention to spin-off products from its Women’s Health, trusted Legacy Brands, and Biosimilars businesses into a new, yet-to-be-named, independent, publicly traded company.
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