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The New Merck




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Video title: The New Merck
Released on: July 07, 2009. © PharmaVentures Ltd
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  • Summary
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In recent years, Merck & Co.'s corporate strategy has included a significant amount of licensing and partnering in order to externalise their pipeline and ensure that the company gets access to the best innovations from around the globe. Mervyn Turner, Chief Strategy Officer and Senior Vice President, Worldwide Licensing and External Research talks to Fintan Walton about the reasons behind the recent acquisition of Schering-Plough, and how the research areas and product pipelines of the two companies complement each other. However, he stresses that the new Merck will continue to look externally for opportunities as a company's pipeline can never be too strong.
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The key effect of licensing and partnering strategy by Merck & Co. Inc..
Fintan Walton:
Hello and welcome, we are here at Bio 2009 at the Annual Convention here in Atlanta. We are here to record a series of programs with leading pharmaceutical and biotechnology companies to talk about the both their vision and what they are doing to build their organizations in tough economic times. Hello and welcome to PharmaVentures business review here at Bio in Atlanta. On this show I have Mervyn Turnerwho is Chief Strategy Officer & Senior Vice President of Worldwide Licensing & External Research. Welcome to the show.
Mervyn J. Turner:
My pleasure, thank you.
Fintan Walton:
Mervynyou have presided over a period at Merckwhere Merckhas done significant amount of licensing and partnering. What has been the key effect of that strategy?
Mervyn J. Turner:
The key effect has been to really externalize a large part of our pipeline that is to say about 40% to 50% of our Phase III programs now are originated from discoveries made outside of Merck and we are trying to build on that so that 25% of our early pipeline comes from external relationships.
Fintan Walton:
So has Merckas an organization changed in your perspective over the " over the last say five-years?
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Mervyn Turner
Chief Strategy Officer & Senior VP Worldwide Licensing & External Research
Dr. Mervyn J. Turner is chief strategy officer for Merck & Co. Inc. and senior vice president, Worldwide Licensing and External Research, for Merck Research Laboratories. Since joining Merck in 1985, Dr. Turner has held many positions of increasing responsibility. Through his multiple and diverse experiences in the Merck Research Laboratories he has acquired a broad perspective on the issues surrounding drug discovery and development. Most recently (November 2008), Dr. Turner was appointed chief strategy officer for the Company. In this role, he reports to Richard T. Clark, chief executive officer, and has primary responsibility for partnering with Merck 's Executive Committee and leading the formulation and execution of Merck's long term strategic plan. His role focuses on ensuring alignment of enterprise strategy with the business plans of Franchises, Divisions, and Functions. In August 1999, Dr. Turner was appointed senior vice president, Merck Frosst Centre for Therapeutic Research in Montreal, Canada. Dr. Turner returned from his assignment in Montreal in October 2002 to take up his position as senior vice president, Worldwide Licensing and External Research. In this role, he is responsible for the oversight of all of Merck's licensing activities, and for the management of academic relations. During 2004 through 2006 there was a sizeable increase in deal activity for Merck, with more than 140 transactions completed. Merck has also been active in mergers and acquisitions, with Aton, Abmaxis, GlycoFi, and Sirna all acquired to build areas of key strategic importance. Dr. Turnersees all this activity as a logical product of a cultural shift within Merck toward a more outward-facing organization. Dr. Turner is the author of more than 80 articles in peer reviewed journals. He has served on the editorial board of a number of journals, and since 1998 has been a member of Health Care Ventures Scientific Advisory Board.
Merck & Co., Inc.
Merck & Co. Inc. ,is a global research-driven pharmaceutical company that discovers, develops, manufactures and markets a range of products to improve human and animal health. Established in 1891, the Company's operations are principally managed on a products basis and comprises of two business segments: the Pharmaceutical segment and the vaccines segment. The Pharmaceutical segment includes human health pharmaceutical products marketed either directly or through joint ventures. Merck sells these human health pharmaceutical products primarily to drug wholesalers and retailers, hospitals, government agencies and managed health care providers, such as health maintenance organizations, pharmacy benefit managers and other institutions. The vaccines segment includes human health Vaccine products marketed either directly or through a joint venture. These products consist of preventative pediatric, adolescent and adult Vaccines, primarily administered at physician offices.