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Case Study Merck & Co Make Sure You Label Graphs & Tables, Abstract Should Be Around 300 Words

2303 words - 9 pages

AbstractLeading up to the year 2000, Merck & Co., Inc. had gained success in the pharmaceutical industry with drugs like Vasotec, for help with blood pressure ("Vasotec," 2013), and Pepcid, to relieve issues with stomach acid ("Pepcid complete," 2013). Merck had generate about $5.7 billion through the sales of their more popular drugs, however, the company fears that sales will decline as "generic substitutes become available." Looking to revitalize sales, Merck is finding that new drugs need to be developed and tested to ensure that they remain on "the leading edge" of the pharmaceutical market. Davanrik was developed by LAB Pharmaceuticals to treat depression. By testing Davanrik in three different phases, Merck can learn the effectiveness of the drug as well as gather information on what it would take financially in order to market and produce this drug. Using decision tree analysis, we were able to look at each individual phase of testing and gauge the probabilities of success and failures while also taking a glimpse at financial investments, costs, and values. The first phase involved the testing of the drug to determine its safety. If the drug makes it past Phase I, testing begins in Phase II. The second phase will test the drug's effectiveness in treating depression and/or weight loss. In Phase III, safety and effectiveness are tested through long term use. Depression and weight loss would, again, be studied and the effectiveness and safety determined (Ruback, 2003). Merck has accounted for various financial outcomes and probabilities on drug successes and failures for each of the three phases. Using this information and our decision tree analysis, we have determined that the new drug would yield a net present value of $13.98 million and thus would recommend that Merck & Co., Inc. should use this opportunity to license and sell Davanrik.Merck & Co., Inc."Merck has a long and rich history of working to improve people's health and well-being." Behind the brain of Dr. Ernst Christian Friedrich Schering, a pharmaceutical company was founded in Berlin, Germany in 1851. After opening in the United States in 1891, Merck found success in the printing of the "Merck Manual" which served as a guide to doctors and pharmacists. Researchers at Merck discovered strep in 1944 and eleven years later turned cortisone into prednisone. In 1963, Merck developed the first measles vaccine and in 1967 developed the mumps vaccine. After acquiring Coppertone in 1957, Merck also helped to create the UV Index that is still currently used. Schering's company and Merck worked to develop cholesterol and respiratory medicines after joining together in the United States in 2000 ("About us: our," 2013).Since 1995, Merck had launched several new products resulting in billions of dollars in sales. More specifically in 1999, Merck raked in about $5.7 billion totaling over $32.7 billion in sales. This represents "about a 20% increase from 1998." Many of Merck's...

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