Merck (MRK), the second-largest drug maker in the US based on sales, has decided to revamp its R&D unit after multiple setbacks. The company is planning to tap into research and innovation from outside its own labs and will be setting up these new centers near Boston, the San Francisco Bay area, London, and Shanghai.
Merck has failed to release a blockbuster drug in years. The last successful drugs that Merck received approval for were Januvia, a diabetes drug, and Gardasil, a vaccine for cervical cancer. This was back in 2006. On top of its stagnant drug pipeline, upcoming patent expiries of top-selling drugs like Singulair, a treatment for allergy and asthma, point towards a bleak future for the company.
To try and kick-start its stalled R&D , the drug maker is following in the footsteps of its competitors Pfizer (PFE), Johnson & Johnson (JNJ), and GlaxoSmithKline (GSK), which are already setting up innovation centers and satellite labs in a number of areas. This approach gives these companies access to research being conducted in different areas and allows them to gain a head-start on the competition.
No comments:
Post a Comment