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Merck Announces Global Initiative to Sharpen Commercial and R&D Focus
2013-10-01 13:30:00| Merck.com - Corporate News
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 Contacts:Carol Ferguson, 908-423-4465Joe Romanelli, 908-423-5185 Ticker Slug: Ticker: MRK Exchange: NYSE read more
Tags: global
commercial
focus
initiative
Category:Biotechnology and Pharmaceuticals