Merck KGaA Updates 2013 Guidance With 2014’s Targets
This article was originally published in The Pink Sheet Daily
Quicker than expected cost-savings from its efficiency program improved the family-owned company’s overall financial outlook, but sales of best-selling product Rebif are still expected to decline in the second half of 2013 following launch of competing oral MS drugs.
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FDA approved the oral multiple sclerosis drug March 27 to treat patients with relapsing forms of the disease. Labeling includes data from one trial that showed patients on Tecfidera experienced disability progression less often.
The efficiency program outlined by the German pharma in February will mean elimination of 500 Merck Serono staff in Switzerland, with another 750 employees being redeployed to Germany, China or the U.S.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.