Wednesday, November 4, 2015

Merck & Company (USA)

Merck was founded as a chemical manufacturer in Germany in 1668. Run by the Merck family for generations, the company moved to the United States in 1891 under the direction of George Merck. The company had a humble start as an importer of chemicals from Germany.

By 1897 sales in the USA topped US$ 1 million, George Merck became a US citizen in 1902 and shortly afterwards began manufacturing at Rahway in New Jersey and in St Louis.

The ties between Merck’s subsidiary in the USA and its parent company in Germany were served during the way, a break that became permanent, each thereafter pursuing its own path.

Merck continued as a chemical manufacturer until the 1930s, when it began to do research and development (R&D) in pharmaceuticals.  In the 1920s, the founder announced his core philosophy: Medicine is for the patient; not for the profits. The profits follow.

Two mergers, one in 1953 with Sharp & Dohme, a pharmaceutical firm and another with Medco, a prescription benefits management company, found Merck leaving its chemical production roots and moving exclusively to producing and selling pharmaceuticals.

A merger with Schering Plough increased the number of employees from 73,000 in 2008 to the 100,000 figure at the end of 2009.
Merck & Company (USA)

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