Merck starts looking for a new CEO; shares updates on activities beyond Keytruda

By PharmaCompass

2019-06-27

Impressions: 99 Article

In September 2018, the board of Merck had rolled back a policy that required CEOs to retire at the age of 65. This was seen as a move designed to keep CEO Ken Frazier around longer, who will turn 65 in December this year.

But now, there are reports that the company is looking for a replacement to Frazier. Its preference is for an internal candidate, a Bloomberg news report said. Frazier joined Merck in 1992 and has served as CEO since 2011. He also chairs the board.

The drugmaker is also preparing for the exit of R&D head Roger Perlmutter (who is 66 years of age), according to the report.

In recent years, Frazier has presided over a period of growth fueled partly by the mega-blockbuster cancer drug Keytruda, sales of which passed US$ 7 billion for 2018. But recently, some analysts and investors have questioned how Merck plans to grow beyond Keytruda.

Perlmutter recently mentioned that Merck can build a franchise like Keytruda not just once or twice, but repeatedly.

Merck’s top brass also talked about looking at new combinations and earlier lines for potential first-to-market opportunities. The PARP inhibitor Lynparza might also play a big role in tackling those two markets, even as Merck and partner AstraZeneca explore 19 other indications for this drug.

Outside of oncology, vaccines and hospital care are the main pillars of growth for the company. Merck is looking to grow existing products while steadily pushing a “rich pipeline.”

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