Up to 360 employees of Merck’s 7,400 New Jersey employees could either lose their jobs or see their positions relocated as the company shifts efforts toward exploratory biology.
The cuts will come from the company’s pre-clinical, discovery, and early development group. Citing a need to break into emerging research arenas, the change in strategy will result in staffing level changes in Kenilworth and Rahway, New Jersey as well as North Wales, ...
continue reading...The pharmaceutical giant Merck faces yet another FDA rejection of its anesthesia drug Sugammadex, FierceBiotech reports. Sugammadex, obtained when Merck merged with the pharmaceutical company Shering-Plough, has been hailed as one of the top experimental drugs in Merck’s development pipeline. Over the years, however, it has experienced a number of setbacks, beginning with its first rejection by the FDA in 2008 and continuing ...
A $100 million settlement with Merck & Co. has been finalized as 95 percent of claimants opted to receive compensation. The settlement regarding the company’s hormonal contraceptive, NuvaRing, was announced in February. There will be about 3,800 people that will receive compensation through the NuvaRing settlement.
The NuvaRing lawsuits alleged that Merck had downplayed the health risks connected to the contraceptive and did not adequately warn its users about the potential serious complications. ...
continue reading...On Friday, February 7, 2014, Merck & Co announced that it is willing to pay $100 million to settle all NuvaRing intrauterine contraceptive device lawsuits.
The NuvaRing contraceptive is a flexible ring that releases the hormones estrogen and progestin in order to prevent pregnancy. NuvaRing has been associated with an increased risk of forming blood clots, which can in turn cause heart attacks, strokes, even death. An FDA report released in 2011 announced that NuvaRing posed a higher risk for blood ...
continue reading...In a recent announcement to the public, Merck – a United States pharmaceutical giant – will be cutting 8,500 jobs as part of a business strategy to become more competitive in their field.
An article by CNN reports that Merck also plans to cut $2.5 billion from its annual operating costs by the year 2015. The first step, cutting 8,500 jobs, comes in addition to the previous 7,500 jobs that were cut in 2011 and 2012. ...
continue reading...On a day that Merck announced its intent to lay off 8,500 employees, a federal judge approved a settlement in which Merck agreed to pay $688 million for allegedly defrauding shareholders.
Merck agreed to pay this amount in order to resolve a class action lawsuit in which it was alleged that the company withheld adverse results of a clinical trial of Vytorin and Zetia, two anti-cholesterol drugs. The purpose of ...
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