PharmaTelevision - Greg Wiederrecht, Vice President and Head of the External Scientific Affairs elaborates on Merck`s adaptability to externalization

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Video title: Greg Wiederrecht, Vice President and Head of the External Scientific Affairs elaborates on Merck`s adaptability to externalization

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In this episode of PharmaTelevision News Review, Fintan Walton talks to Greg Wiederrecht, Vice President of Worldwide Licensing & External Research at Merck

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Activities and responsibilities of External Scientific Affairs group

Fintan Walton:

Hello and welcome to PharmaTelevision News Review here at Bio-Europe in Milan, Spring 2011. On this show I have Greg Wiederrecht, who is Vice President of External Scientific Affairs at Merck & Co, welcome to the show.

Greg Wiederrecht:

Thank you.

Fintan Walton:

Greg, you belong to the worldwide licensing group at Merck you're part of the organization obviously you deal with the externalization of research and development in other words the scientific advances that are available to Merck through your collaborations and so forth, today in 2011 those activities are they as strong as they were two-years ago, five-years ago?

Greg Wiederrecht:

I think they are stronger than they were five-years ago, so since our merger with Schering-Plough and despite our research budget of about $8.5 billion externalization remains as important if not more important than ever before after all we have to feed a much larger company with innovation and the licensing group has actually grown in size since the merger. So both legacy Schering-Plough and legacy Merck people make up the licensing group and head of our licensing group is a legacy Schering-Plough employee.

Fintan Walton:

Okay, so the scientific affairs component what is the remit how far do you go in terms of cap looking at a particular opportunity do you stop of it Phase II or where do you how far do you, what far is your remit?

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Fintan Walton

Dr Fintan Walton is the Founder and CEO of PharmaVentures . After completing his doctoral research on the genetics of cell proliferation at the University of Michigan(US)and Trinity College (Dublin, Ireland), Dr Walton gained broad commercial experience in biotechnology in management positions at Bass and Celltech plc (1982-1992).

Greg Wiederrecht

Vice President

Dr. Greg Wiederrecht , is the Vice President and Head of the External Scientific Affairs department of the Merck Research Laboratories division of Merck & Co., Inc. where he has been employed for the past 20 years. External Scientific Affairs is responsible for the scientific assessment of all licensing, partnering, and acquisition opportunities for Merck. Dr. Greg Wiederrecht 's responsibilities include the management of a group of 80 scientists and administrators, distributed worldwide and divided by various therapeutic and platform areas, who identify and assess opportunities outside of Merck's walls. Dr. Greg Wiederrecht holds a B.S. degree from the University of California, Irvine and a PhD in biochemistry from M.I.T. Before joining Merck in 1989, he was a Helen Hay Whitney Post-Doctoral Fellow and an American Cancer Society Senior Post-Doctoral Fellow at Caltech.

PharmaVentures

PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.

Merck & Co

Merck & CoInc.,a global health care company, discovers, develops, manufactures, and markets medicines, vaccines, biologic therapies, and consumer and animal products. The company focuses with wide range of products in Pharmaceutical, Animal health and Consumer health segments. Merck serves drug wholesalers and retailers, hospitals, government agencies, physicians, as well as managed health care providers, such as health maintenance organizations, pharmacy benefit managers, and other institutions. Merck & Co.,Inc. was founded in 1891 and is headquartered in Whitehouse Station, New Jersey.