Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 11 pages
Data source: Published sources
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https://casecent.re/p/62312
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Abstract
Merck, voted as America''s most admired company by Fortune for seven consecutive years (between 1986 and 1993), was facing a host of problems by 2003. Known for its pioneering research in the pharmaceutical industry in the past, Merck had introduced only six drugs between 2001 and 2003. The company''s sales have also declined taking it to the number three position in the global pharmaceutical industry. Its net income fell for two consecutive years between 2002 and 2003 and it had to lay off 4,400 employees, the biggest ever in its 117 year history, in 2003. The case focuses on the reasons behind Merck''s decline and prompts a discussion on how competitive Merck can be in the future.
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Abstract
Merck, voted as America''s most admired company by Fortune for seven consecutive years (between 1986 and 1993), was facing a host of problems by 2003. Known for its pioneering research in the pharmaceutical industry in the past, Merck had introduced only six drugs between 2001 and 2003. The company''s sales have also declined taking it to the number three position in the global pharmaceutical industry. Its net income fell for two consecutive years between 2002 and 2003 and it had to lay off 4,400 employees, the biggest ever in its 117 year history, in 2003. The case focuses on the reasons behind Merck''s decline and prompts a discussion on how competitive Merck can be in the future.