No Medical and Research Experience
CEO Dick Clark, with no medical or research experience, has literally had splitting headaches after he replaced Ray Gilmartin, who earlier this year paid the price for his strategy to withdraw Vioxx from the market, striking a $38 billion blow in terms of market capitalisation; Merck’s stock tumbled down by almost 7.7%, trading at $28.06 on the NYSE. Its shares were trading at $95 in November 2001. Come 2008 and the American patents for Merck’s two best selling drugs – Zocor and Fosamax – will expire, exposing it to competition from generic copy cats. That would be, if Merck survives till then. Vioxx is not poised to witness a turnaround in the near future at least; and the next in its series, Arcoxia has also been withheld in the United States. Without even questioning Merck’s pre product launch research tests – or lack of the same – that allowed Vioxx to enter the market, it would be no rocket science to say that the Merck brand name is almost taboo.
Source :- IIPM Editorial
For More IIPM Article, Click here
Source :- IIPM Editorial
For More IIPM Article, Click here
Copyright: IIPM – 2006
Rashmi Bansal Publisher Of JAMMAG Magazine Caught Red-Handed, for details click on the following links:-
posted by Pankaj Negi @ 3:06 AM
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