MSD: Plan to Win to facilitate industry leadership position

Merck, Sharp and Dohme (MSD) has claimed that the implementation of the early stages of its Plan to Win business strategy has formed the basis for continued growth and set the path for the company to reclaim its position as the leader in the pharmaceuticals industry.

The company reports that attainment of a number of landmarks since the initiation of this business strategy in 2006, with these including the divestment of excess facilities, realising large procurement savings, achieving an inventory reduction and the introduction of a new process for product-supply.

MSD attributes much of its recent successes to novel drug discovery and development as part of its research and development pipeline in addition to its establishment of a number of worldwide commercial franchises.

Richard T Clark, chairman, president and chief executive officer of the firm, said: “The results of 2006 show that we are on the right course and that we have not just a plan to win, but also the skill and the will to win back our position as a leader in this important industry.”

He added that the firm had launched five new pharmaceutical products during 2006 which would act as a driver for financial results in 2007 and for years to come.

Last week, MSD announced “strong” results for the first quarter of the 2007 financial year, with the company reporting global sales of $5.8 billion (2.89 billion pounds).