Dateline City:
WHITEHOUSE STATION, N.J.
Company Redesigns Operating Model; Reduces Cost Base
Initiative targets net reduction in annual operating expenses of approximately $2.5 billion by the end of 2015
Plan includes new workforce reductions of approximately 8,500 positions, in addition to pending, previously announced reductions
Company reaffirmed 2013 full-year non-GAAP EPS target of $3.45 to $3.55; revised GAAP EPS range to $1.58 to $1.82
WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Merck (NYSE:MRK), known as MSD outside the United States and Canada,
today announced a global initiative to sharpen its commercial and
research and development (R&D) focus. The multi-year initiative will
enable Merck to better target its resources behind those opportunities
that have the potential to deliver the greatest return on investment,
including bolstering its pipeline and implementing a more agile
operating model, with a significantly reduced, more flexible cost
structure.
Language:
English
Contact:
MerckMedia Contacts:Kelley Dougherty, 908-423-4291Steven Cragle, 908-423-3461orInvestor Contacts:Carol Ferguson, 908-423-4465Joe Romanelli, 908-423-5185
Ticker Slug:
Ticker: MRK Exchange: NYSE
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