Merck & Co CEO says firm is well-positioned to regain industry leadership

Struggling US drug major Merck & Co can regain its former leadership of the pharmaceutical sector because of its R&D pipeline and major operational changes that have been made, the firm's chief executive, Richard Clark, has told shareholders. He said that Merck can again be the company that patients and physicians look to first for unmatched excellence and that investors look to first for growth among drugmakers.

"We understand the environment in which we are working and the challenges that the environment poses. But we also see the enormous opportunities the environment offers - and we are fully prepared to take advantage of those opportunities. Merck's strategic plan, our 'Plan to Win,' which we announced in December, will enable Merck to regain the leadership position it long enjoyed, if we can execute it flawlessly, every step of the way. Fortunately, the people of Merck have the talent, the will, and the commitment to do exactly that," Mr. Clark told approximately 600 stockholders at the first annual general meeting over which he has presided.

He reviewed the company's current performance and promising drug candidates, and outlined key elements of the Plan to Win. As Merck strives to reclaim its leadership position, Mr Clark noted that it has a solid financial platform on which to build.