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Essay / Research Paper Abstract
A 9 page paper discussing the course of the company since the early 1990s, focusing on senior leadership; current critical problems; and recommendations for the future. The paper recommends that Merck continue seeking out alliance partners (it created 66 such alliances in 2007) and being more thorough in its research before seeking to take new drugs to market. Bibliography lists 17 sources.
Page Count:
9 pages (~225 words per page)
File: CC6_KSmgPharMerck.rtf
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Unformatted sample text from the term paper:
faced and navigated problems over the past several years, not the least of which was losing its leadership position in its industry. In the early 1990s it was too
internally focused; in the mid-1990s it unwittingly created layers of bureaucracy that had the effect of hampering the companys ability to be competitive. Since 2004 it has been recovering
and refocusing, and appears to have found a highly workable mix of traditional Merck culture and the work of small, entrepreneurial biotech companies. Part I Contribution of Top / General
Manager Merck has a tradition of promoting from within, and extending that philosophy even to the highest levels of management. Under the
leadership of CEO P. Roy Vagelos from the 1980s to the early 1990s, Merck "was the undisputed king of the pharmaceutical industry" (Hawthorne, 2003; p. 54). The company "pioneered
groundbreaking drugs for cholesterol and hypertension, topped all rivals in sales and was named Americas most admired company by Fortune seven years in a row" (Hawthorne, 2003; p. 54).
Raymond V. Gilmartin took over for Vagelos in 1994, when Vagelos stepped down after reaching mandatory retirement age. Gilmartin was not Vagelos choice,
but was selected by the Board for his experience in the long-term care that appeared to be the next hurdle for the pharmaceutical industry. Gilmartin added layers of bureaucracy,
though his intention was to create an elaborate management-level work team equivalent. The end result was that "trying to coordinate so many players from such different cultures easily leads
to turf wars, culture clashes and new layers of bureaucracy" (Hawthorne, 2003; p. 54). By 2003, Merck had not been able to replace the five largest sellers that lost
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