New Merck has been actively touting its goal to increase its presence in the emerging markets of the world, or the Merck "pharmerging" strategy, to insiders.
In Singapore yesterday another Merck exec offered some candid assessments: Merck is actually playing catch up there. Do go read it all -- in this Bloomberg item -- but here is a bit:
. . . .Merck gets 18 percent of its sales from emerging markets at present, Ramesh Subrahmanian, the drugmaker’s president of Asia- Pacific, said in an interview in Singapore today.
The Whitehouse Station, New Jersey-based company, which is currently ranked fifth in emerging markets, aims to become No. 1 or 2 in seven key countries within the next five to seven years, according to Subrahmanian. The countries are China, India, South Korea, Russia, Brazil, Mexico and Turkey.
"The reality is that we are playing catch-up," Subrahmanian said. "We really have quite a lot of work to do be able to not only keep up with the very fast growth that’s happening in these markets in general, but to be able to grow our market share. . . ."
To get to 25 percent market share in about five years, Merck will have to do a lot more than just give talks in Singapore.
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