Merck

Categories: Health | Companies
  • Although Merck & Co., Inc. was first an American subsidiary of the German chemical and pharmaceutical manufacturer, Merck KGaA, it is now an independently-operating corporate entity that distributes and manufactures pharmaceutical goods. Merck & Co., Inc. is among the top 7 largest pharmaceutical companies in the world, and makes many popular medications, including Singulair and Propecia.

    On March 9, 2009, Merck announced plans to buy the rival pharmaceutical company Schering-Plough Corp. for $41.1 billion.MarketWatch: Merck to buy Schering-Plough for $41.1 billion (March 9, 2009)

  • Key Dates

    1. 1891: Company established as American branch of German chemical and pharmaceutical manufacturer, Merck KGaA
    2. 1917: German ties severed after World War I and becomes an independent American company
    3. December 22, 1997: FDA approves Merck's Propecia for treating male pattern hair loss
    4. June 19, 2006: Patent expires on Propecia component drug
    5. 2005: CEO Raymond Gilmartin retired, replaced by former president of manufacturing, Richard T. Clark
    6. 2007: Listed as #99 in the Fortune 500

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