Merck Announces Global Initiative to Sharpen Commercial and R&D Focus

Dateline City:

WHITEHOUSE STATION, N.J.

Company Redesigns Operating Model; Reduces Cost Base

Initiative targets net reduction in annual operating expenses of approximately $2.5 billion by the end of 2015
Plan includes new workforce reductions of approximately 8,500 positions, in addition to pending, previously announced reductions
Company reaffirmed 2013 full-year non-GAAP EPS target of $3.45 to $3.55; revised GAAP EPS range to $1.58 to $1.82

WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Merck (NYSE:MRK), known as MSD outside the United States and Canada,
today announced a global initiative to sharpen its commercial and
research and development (R&D) focus. The multi-year initiative will
enable Merck to better target its resources behind those opportunities
that have the potential to deliver the greatest return on investment,
including bolstering its pipeline and implementing a more agile
operating model, with a significantly reduced, more flexible cost
structure.

Language:

English

Contact:

MerckMedia Contacts:Kelley Dougherty, 908-423-4291Steven Cragle, 908-423-3461orInvestor Conta...

Source: Merck.com - Corporate News - October 1, 2013 Category: Pharmaceuticals Tags: Corporate News Latest News Source Type: news