Merck Sharp and Dohme provides update on business strategy

Merck Sharp and Dohme has provided an update on the strategic and operating actions it is taking to drive short and long-term growth at this year's JP Morgan Healthcare Conference.

As part of a multi-year initiative launched last October to resource opportunities that offer the greatest potential return on investment, the firm is increasing its focus on core markets and accelerating the progress of its pipeline developments.

The company has initiated a rolling US regulatory submission for MK-3475, its anti-PD-1 immunotherapy, while preparing 2014 regulatory actions for V503, vintafolide, vorapaxar, Noxafil IV, vaniprevir, AIT-Grass and AIT-Ragweed.

It will also be focusing on key markets such as the US, UK, Japan, France, Germany, Canada, China, Brazil, Russia and Korea, and exploring strategic options for its animal health and consumer care businesses.

Kenneth Frazier, chairman and chief executive officer of Merck Sharp and Dohme, said: "We're taking significant and decisive action to make Merck a more competitive company, better positioned to drive innovation and growth."

The company will be publishing its financial results for the fourth and final quarter of 2013 on February 5th 2014.