merck cio 2020

The decrease in non-GAAP gross margin reflects the unfavorable effects of pricing pressure, inventory write-offs, higher amortization of intangible assets related to collaborations and foreign exchange, partially offset by the favorable effect of product mix. Merck CIO Alessandro De Luca explains how its prescriptive supply chain system works. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. Gross margin was 72.3% for the third quarter of 2020 compared to 67.8% for the third quarter of 2019. Net Income Attributable to Merck & Co., Inc. Earnings per Common Share Assuming Dilution, Average Shares Outstanding Assuming Dilution. Jim Scholefield, Merck's chief digital officer, has been hired by Marriott to fill a similar role. Private Securities Litigation Reform Act of 1995. In his new role at Organon, Matt will be responsible for the development and execution of the company’s overall financial strategy, and will oversee corporate financial planning, tax, audit, treasury, investor relations and business development. Drone delivery is one solution to getting critical supplies where they are needed, at the moment they are needed most.”. Merck announced the following regulatory milestones for KEYTRUDA: Merck and AstraZeneca announced the adoption of two positive opinions by the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for Lynparza: New Phase 1 data for the company’s anti-TIGIT therapy vibostolimab (MK-7684) as monotherapy and in combination with KEYTRUDA in patients with metastatic NSCLC, First-time Phase 1 results for the novel anti-immunoglobulin-like transcript 4 (ILT4) therapy MK-4830 in patients with advanced solid tumors, and. Third-quarter pharmaceutical sales increased by $225 million, or 2%, to $11.3 billion. CIO Network. KENILWORTH, N.J., May 18, 2020 – Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the appointment of Matthew Walsh and Rachel Stahler as Chief Financial Officer and Chief Information Officer, respectively, for Organon & Co., its intended spinoff of its women’s health, legacy brands and biosimilars businesses. For further information, please visit https://merck.unleashinggrowthpotential.com. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. The effective income tax rate was 14.1% for the third quarter of 2020 compared to 18.7% in the third quarter of 2019. For a description of the items, see Table 2a attached to this release. “I am confident in our ability to advance our promising pipeline and clinical trials despite the challenging environment, and I believe that our leadership and track record of solid commercial execution will continue to drive long-term growth.”, Non-GAAP net income that excludes certain items1,2*, Non-GAAP EPS that excludes certain items2*. Operating expenses were positively impacted in the third quarter by approximately $115 million, primarily driven by lower promotional and selling costs as well as lower research and development (R&D) expenses, net of investments in COVID-19-related antiviral and vaccine research programs. Excluding items, Merck … (908) 740-1037 Linnartz noted, “Jim will play a pivotal role in driving our technology modernization efforts as we embark on a new chapter in the company’s technology journey to support our future growth, both within our core lodging business and new ventures. The CIDO role is new to Marriott. All Rights Reserved, This is a BETA experience. The non-GAAP effective income tax rate was 14.8% for the third quarter of 2020 compared to 15.7% for the third quarter of 2019, reflecting the favorable impact of earnings mix. Non-GAAP EPS was $1.74 for the third quarter of 2020 compared with $1.51 for the third quarter of 2019. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Related Costs3, GAAP Expense, EPS and Related Information. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP. The company also benefited from increased demand for its bacterial pneumonia vaccine, Pneumovax 23, in the United States, Japan, and Europe as people seek to avoid one lung disease compounding another during the pandemic. For 2020, Merck now expects an unfavorable impact to revenue of about $2.35 billion due to the pandemic, up from $1.95 billion it had initially estimated. In the third quarter, the estimated negative impact of the COVID-19 pandemic to Merck’s pharmaceutical revenue was approximately $475 million, bringing the company’s year-to-date negative impact on revenue to approximately $2.1 billion. https://www.businesswire.com/news/home/20200518005522/en/, Media: Animal Health sales totaled $1.2 billion in the third quarter of 2020, an increase of 9% compared with the third quarter of 2019; excluding the unfavorable effect from foreign exchange, Animal Health sales grew 12%. I have advised many of the best chief information officers at multi-billion, I am the president of Metis Strategy, a business and IT strategy firm that I founded in 2001. Prior to Allergan, Rachel held CIO positions in multiple global health care organizations, including Pfizer, Syneos Health / Inventiv Health and Optimer Pharmaceuticals. Opinions expressed by Forbes Contributors are their own. (908) 740-1807. Excluding items, Merck earned $1.74 per share, beating analysts' average estimates of $1.44 per share, according to IBES data from Refinitiv. Private Securities Litigation Reform Act of 1995. I have advised many of the best chief information officers at multi-billion dollar corporations in the United States and abroad. These appointments are in addition to the previously named Organon Chairman of the Board Carrie Cox, and six internal appointments to the Executive Leadership Team, announced in March 2020. I am an M.D/J.D. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. You can reach me at peter.high [at] metisstrategy.com or on Twitter @PeterAHigh, © 2020 Forbes Media LLC. Acquisition- and Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals – including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases – as we aspire to be the premier research-intensive biopharmaceutical company in the world.

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