Monday, November 28, 2011

Ex-Merck-CEO Dick Clark Formally Retires This Thursday


The Inquirer, Philly's paper of record, has a nice summary of his career here -- below is a bit, but be sure to go read it all:

. . . .He helped stabilize the company, overseeing the launch of eight products in two years, including the diabetes drug Januvia, the HPV vaccine Gardasil and the HIV medication Isentress. He also led Merck through its $49 billion acquisition of Schering-Plough Corp., which helped expand Merck’s product pipeline and gave it entry into Asian markets, where Merck lacked a strong presence.

But thousands of employees have been laid off under Clark’s tenure, many because of the Schering-Plough merger. The company has lost patent protection on some of its best-selling drugs. Frazier, in one of his first conference calls as CEO, said Merck wouldn’t meet previously announced earnings goals.

Merck, which is headquartered in Whitehouse Station, N.J., has 90,000 employees worldwide. More than 10,000 of those employees work in Montgomery County, and most of them are at West Point, the sprawling manufacturing facility in Upper Gwynedd. Clark started there in 1972, and was head of manufacturing before being named CEO. . . .

So it goes.

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