Merck's new CEO Vows tough innovation spending, faster drug decisions. Merck & Co.'s.
Pharmaceutical companies face increasingly difficult standards for U.S. approvals for novel drugs. Last year was the first time in a decade that Pfizer Inc. (New York), the world's largest drugmaker, as well as Merck, Eli Lilly & Co. (Indianapolis IN) and Bristol-Myers Squibb Co. (New York), each failed to win regulatory backing for a new molecular compound. Merck secured approval for its Dulera asthma inhaler, which combines two previously approved treatments, and won the right to market drugs for wider indications, said Steve Campanini, a spokesman for Merck. The company said last week that it received an accelerated six-month review for its experimental hepatitis C treatment. Merck shares closed the week up $1.31, or 4%, at $37.35. The stock has declined 1.6% in the past 12 months.
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|Date:||Jan 10, 2011|
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