Struggling Merck Serono Pins Hopes On New Management, Organization
This article was originally published in The Pink Sheet Daily
One-time charges hit second quarter results; new management brought in to improve margins and productivity.
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MUMBAI - Contrary to what most global CEOs would say about challenges confronting the global pharmaceutical industry, Karl-Ludwig Kley, chairman of the $12.28 billion German chemicals and pharmaceuticals conglomerate Merck KGaA, says he doesn't believe the pharma business model is broken, despite dwindling R&D pipelines, increasing spend and diving sales as fewer blockbusters make it to market