Revival of Mercadon

"A few years ago, there were problems in every aspect of The Company: research and development has gone nowhere, stock prices have been depressed, and one of the most profitable products is facing a flood of lawsuitsSo how did it regroup? "
daydreaming" but the last laugh
merchadedon's 2004 revival plan looks like a daydreamAt the company's annual meeting with Wall Street analysts in December, Ray Gilmartin, then chief executive, introduced the audience to a host of new products the company was about to developThat's because before that, Mercato had missed its expected profit target for three quarters and had been forced to cancel a late-stage development program for two promising drugsMarket analysts are expecting Mercayon to take concrete actionGilmartin's products include three vaccines based on breakthrough scientific results: rotavirus vaccine, shingles vaccine and cervical cancer vaccineAnd slow, vaccine has been a byword for not making a lot of money ah! Then Gilmartin showed off a new diabetes treatment, which didn't convince market analystsWhat analysts want to know is where is The New Bomb Bomb Drug, which has $1 billion in annual salesIs Jill Martin, who has been chief executive of Mercato since 1994, the challenge?Five months later, Jill Martin left office in a bleak stateBut today, Ray Gilmartin had the last laughEven the critics of the year had to admit that the seeds of Mersadon's revival were rooted in his visionSo far, the FDA has approved three new drugs that Gilmartin pushed in December 2004The new drugs are expected to add $7 billion a year to Mercado's salesOver the past two years, Mersadon has achieved better-than-expected results in research, finance and lawSince the beginning of 2006, seven new drugs have been approved by the FDA, more than their peersAt the same time, In the Wanlu case, Mercado won most of the victoriesThose results enabled it to settle a large number of million-dollar lawsuits in November at a cost of $4.85 billion, well below the initial estimate of $20 billionInvestors have also noted that the price of shares in Mersadon has risen by 75 per cent since the beginning of 2006, far outpacing peer gainsThree of the key playersThe Mercer east was able to revive in a short period of time: Richard Clark, chief executive, Peter Kim, and Ken Frazier, a former legal adviserClark joined Mercado in 1972 and became CEO in 2005As time went on, the company was divided into pieces and separated, according to a company insiderClark emphasizes "one voice to the outside" and often repeats the phrase in various public settingsOn top of that, he has taken action to try to screw the company up and down into a rope"We need to be more consistent, and from the moment we started talking about a product, I wanted researchers, marketers, and people in the production department to be able to sit in the same office," Clark said"
as Clark embarks on a grand plan for the company's development, Kim is focused on research and development projects For a long time, Mercado's scientific achievements have won widespread praise, from 1987 to 1993, business leaders have been the Mercer East company as Fortune magazine", "America's most respected company." In fact, at an early stage, Mersadon found it difficult for them to turn scientific results into profitable new products This dilemma is also a microcosm of the depletion of research and development products across the pharmaceutical industry Even so, Mercayon revels in past achievements, so much so that his culture of research and development has become more self-absorbed and closed The company has refused to consider accepting externally developed drugs and has abandoned mergers and acquisitions and research alliances that are reshaping the entire pharmaceutical industry That's when Peter Kim joined Before joining Mercado in 2001, Kim had no business experience and spent most of his personal career as a biologist at mIT In 2003, he took over the day-to-day management of the Mercerton laboratory As an outsider integrated into a relatively closed corporate culture, Kim has the kind of vision that long-term employees within the company lack He convinced researchers that high-quality research could actually be achieved outside of Mercaydon, and that companies should be proactive in acquiring other research results In the second half of 2004, Kim had established a new system in which he asked researchers to dig up scientific literature to identify promising compounds He also encourages corporate researchers to open their doors to the company's acquisition department through communication In 1999, Mersadon conducted only 10 cooperative licensing transactions, compared with 53 joint development and small acquisitions in a single year in 2006 Kim also faced a second challenge at the time: to restore the morale of the researchers after the recall The company's research team has been left in a very awkward position after scientists accused of selling a dangerous drug to patients: the company has lost top-notch technology talent , and new recruits are no longer as eager to join the company as they have in the past Samuel Thier, a director at Mersadon and emeritus professor of medicine and health policy at Harvard Medical School, said it was a tough time and he had to pay off the company's former glory Kim has set a simple development goal for the company's laboratory: to bring late-stage drugs to market! Over the past two years, Mercado has reduced the average time it takes to complete a later trial of the drug by 11 months As Mersadon begins to win a series of lawsuits, restoring its reputation as a research partner has become easier And that's thanks to Ken Frazier, 53 Frazier insists that the company will fight back rather than settle the Wanlu lawsuit As a Harvard Law School graduate, Frazier, an African-American, was legal counsel for The Company He is confident that Mersadon can win enough cases to create favourable conditions for settlement negotiations and avoid paying high compensation Of course, Frazier's attack-based strategy is risky because it depends on the company's ability to articulate complex scientific knowledge clearly to the jury At first, this strategy seemed to be wrong The first case was decided in August 2005, when a Texas jury found Mercado guilty of the death of 59-year-old Robert Ernst and awarded Mercado $27 million in damages In the ensuing case, however, Mercado began to reap the joy of winning By the second half of 2007, 20 cases had been heard, and Mercadon had won 12 cases, lost five and had lost three This result was enough to allow the company to reach a favourable settlement with the prosecution's lawyers Frazier's strategic vision and initiative were praised by Clark, who last August promoted Frazier to the company's number two: Executive Vice President and President of Global Human Health   the road to 's recovery continues
The road to the revival of Mercadon is still on track, with seven of the latest drugs just beginning to contribute to the company's improved business performance Most notably, the cervical cancer vaccine Gardasil generated $1.5 billion in sales for the company in 2007, and last year, Mercado's sales rose 7 percent to $24.2 billion Of course, there is bad news, and the company may face another legal battle The U.S Department of Justice and 32 state attorneys general continue to investigate Mersandon's marketing practices, including whether the company used millions of miles for out-of-label purposes through promotions Regulators are also questioning whether the cholesterol-lowering drug Vytorin, which is sold jointly by Mersaton and Schering-Yuya, is as effective as claimed On January 14th the two companies published their findings on the drug Since February, the shares of the two companies have fallen sharply However, compared with the difficulties encountered in the past, Mersadon is confident that they will be dealt with This time, Wall Street is no longer full of doubt As Seamus Fernandez, an analyst at Leerink Swann and Co, says, as big pharmaceutical companies struggle to find new drugs, The company is in the early stages of a benign period of growth as the company launches seven new products in two years