Future of Merck

[anonymous]

First I will preface my statement by informing you that I am not bitter. I am almost 60, I have been here for 30 years and I will retire very comfortably. This post is a frustration for the lives of my friends that are impacted by the terrible decisions of senior leadership at Merck.

I am very concerned about what I see from not only Merck but most corporations today.

"There was a time, half a century ago, when what was good for many American corporations tended to also be good for America. Companies invested in their workers and new technologies, and as a result, they prospered and their employees did too.

Now, a growing group of business leaders is worried that companies are too concerned with short-term profits, focused only on making money for shareholders. As a result, they’re not investing in their workers, in research, or in technology—short-term costs that would reduce profits temporarily. And this, the business leaders say, may be creating long-term problems for the nation."

I borrowed these two paragraphs from an article I read a few months ago in the Atlantic. This is a sad reality and I must ask what is Merck's long range plan. They have been consumed with slashing cost and not growing their business. Eventually they will cannibalize the company for short term profits to impress Wall Street and line the "fat cats" pockets. This is the direction of the company and I feel it's time for a radical change and fresh perspective. Ken Frazier should not be making millions while damaging the lives of the employees of this once great company. The senior leadership of this company represent gross incompetence and that is where the change needs to occur.

 

[anonymous]

First I will preface my statement by informing you that I am not bitter. I am almost 60, I have been here for 30 years and I will retire very comfortably. This post is a frustration for the lives of my friends that are impacted by the terrible decisions of senior leadership at Merck.

I am very concerned about what I see from not only Merck but most corporations today.

"There was a time, half a century ago, when what was good for many American corporations tended to also be good for America. Companies invested in their workers and new technologies, and as a result, they prospered and their employees did too.

Now, a growing group of business leaders is worried that companies are too concerned with short-term profits, focused only on making money for shareholders. As a result, they’re not investing in their workers, in research, or in technology—short-term costs that would reduce profits temporarily. And this, the business leaders say, may be creating long-term problems for the nation."

I borrowed these two paragraphs from an article I read a few months ago in the Atlantic. This is a sad reality and I must ask what is Merck's long range plan. They have been consumed with slashing cost and not growing their business. Eventually they will cannibalize the company for short term profits to impress Wall Street and line the "fat cats" pockets. This is the direction of the company and I feel it's time for a radical change and fresh perspective. Ken Frazier should not be making millions while damaging the lives of the employees of this once great company. The senior leadership of this company represent gross incompetence and that is where the change needs to occur.

Agreed my friend. I'm out too, though I'm not going to retire yet... just begin a quest to find fulfilling work elsewhere. George W. Merck must be rolling in his grave with what these lawyers, bean counters, and BS artists have done to this company. It's a true shame. At least the opt out packages are decent. Best of luck to everyone!

 

[anonymous]

First I will preface my statement by informing you that I am not bitter. I am almost 60, I have been here for 30 years and I will retire very comfortably. This post is a frustration for the lives of my friends that are impacted by the terrible decisions of senior leadership at Merck.

I am very concerned about what I see from not only Merck but most corporations today.

"There was a time, half a century ago, when what was good for many American corporations tended to also be good for America. Companies invested in their workers and new technologies, and as a result, they prospered and their employees did too.

Now, a growing group of business leaders is worried that companies are too concerned with short-term profits, focused only on making money for shareholders. As a result, they’re not investing in their workers, in research, or in technology—short-term costs that would reduce profits temporarily. And this, the business leaders say, may be creating long-term problems for the nation."

I borrowed these two paragraphs from an article I read a few months ago in the Atlantic. This is a sad reality and I must ask what is Merck's long range plan. They have been consumed with slashing cost and not growing their business. Eventually they will cannibalize the company for short term profits to impress Wall Street and line the "fat cats" pockets. This is the direction of the company and I feel it's time for a radical change and fresh perspective. Ken Frazier should not be making millions while damaging the lives of the employees of this once great company. The senior leadership of this company represent gross incompetence and that is where the change needs to occur.

Shut your pie hole, old fart! Go get your room ready at the nursing home! Don't lecture us, gramps!

 

[anonymous]

Shut your pie hole, old fart! Go get your room ready at the nursing home! Don't lecture us, gramps!

The "old fart" is going to have a much more bright and stable future than you will. You are f--ked.

 

[anonymous]

The "old fart" is going to have a much more bright and stable future than you will. You are f--ked.

So true, old farts have been saving their money, paying off their mortgages and have a 7 figure pension which can be taken in lump sum form. Worry about the newbies who believed that they were going to be taken care of by momma Merck. What needs to be done is to get rid of a lot of the top heavy headquarters people and cut Fraziers pay.

 

[anonymous]

Shut your pie hole, old fart! Go get your room ready at the nursing home! Don't lecture us, gramps!

This asshole is why people dislike this website so much.

 

[anonymous]

So true, old farts have been saving their money, paying off their mortgages and have a 7 figure pension which can be taken in lump sum form. Worry about the newbies who believed that they were going to be taken care of by momma Merck. What needs to be done is to get rid of a lot of the top heavy headquarters people and cut Fraziers pay.

Thanks old fart I couldn't agree with you more. Merck reps who aren't near retirement have been riding the high horse for years. Drinking $5 lattes, kids in private schools, driving Range Rovers, fancy trips, remodeling and more. How are these cuts a surprise to anyone? Sure most will survive but will require major lifestyle changes.

 

[anonymous]

First I will preface my statement by informing you that I am not bitter. I am almost 60, I have been here for 30 years and I will retire very comfortably. This post is a frustration for the lives of my friends that are impacted by the terrible decisions of senior leadership at Merck.

I am very concerned about what I see from not only Merck but most corporations today.

"There was a time, half a century ago, when what was good for many American corporations tended to also be good for America. Companies invested in their workers and new technologies, and as a result, they prospered and their employees did too.

Now, a growing group of business leaders is worried that companies are too concerned with short-term profits, focused only on making money for shareholders. As a result, they’re not investing in their workers, in research, or in technology—short-term costs that would reduce profits temporarily. And this, the business leaders say, may be creating long-term problems for the nation."

I borrowed these two paragraphs from an article I read a few months ago in the Atlantic. This is a sad reality and I must ask what is Merck's long range plan. They have been consumed with slashing cost and not growing their business. Eventually they will cannibalize the company for short term profits to impress Wall Street and line the "fat cats" pockets. This is the direction of the company and I feel it's time for a radical change and fresh perspective. Ken Frazier should not be making millions while damaging the lives of the employees of this once great company. The senior leadership of this company represent gross incompetence and that is where the change needs to occur.

 

[anonymous]

pharma is different than other industries. our success solely relies on winning gambles in research. We do not get to pick products. we cross our fingers and roll the dice. sometimes the right decisions yield no results. without successful research nothing else matters. and research is like playing the lottery

 

[anonymous]

Thank OP for your honest comments. I go to this site often to try and share real insight and input into what is happening in this company. I have been here almost 25 years and spent half my career in the field and the other half in HQ in various marketing roles. I know many, many people at this company and have worked for and with a lot of the senior managers. This message is not for the negative people who have nothing better to do then trash posters but those instead who are looking for honest input on our organization. I have told you for some time that changes were coming and now they are here. For those that survive this massacre I would not stay here. This company has been run by the same people for years and until they leave, nothing will change. The CEO is clueless and the 2nd in command wants nothing other than the CEO's job. The board loves the 2nd in command meanwhile the #1 today hates him. Can you believe this? Yes, it is true and really sad. Look at the leadership through this cyber attack. There was none!!! Look at the culture. We used to have one that we were proud of, today forget it. Look at who gets promoted. We used to shake our heads in agreement when someone got promoted. Today we say, WTF? I could go on and on but will not. This is no longer a place to build a career and a future. If you are here today get out as soon as you can, if you are thinking of joining look elsewhere, if you are close to retirement suck this pig for as long as you can. With Januvia tanking in the US and other products floundering, where is future revenue coming from? Keytruda? Sure but what's next, our new product for cough? That will be as successful as belsomra, atorzet, grastek. After Keytruda, there is nothing. I don't give a shit what management says. Recently # 2 said he was optimistic about the commercialization of anacetrapib when all of us knew in HQ that the long half life was a problem along with other commercial issues. Come on!,It's really unfortunate how those in charge have destroyed this once great company.

 

[anonymous]

The "old fart" is going to have a much more bright and stable future than you will. You are f--ked.

Hey Red Eyed Gramps: I wouldn't gloat too much! Over 1800 families are being negatively impacted and your bragging about your financial position. What a jerk! You may have some bucks but you will be wearing adult diapers very soon and someone is going to have to wipe your arse and mouth for you! Again you are a old fart jerk!

 

[anonymous]

I don't think the op was being a jerk or gloating about anything.

I read that as an honest perception of problems that need to be addressed.
Seems more constructive than anything.

 

[anonymous]

The future is definitely not good. Januvia sales will start to erode as the competition gets more crowded in the diabetes market, the SGLT2 will be a dud because it is too late to the dance, Keytruda sales will eventually level off, Zostavax will drop like a rock with new competitor, Pneumovax will decline soon, Gardisil will level off, there is nothing new coming that will bring any real revenue, terrible leaders, no realistic vision. The pressure cooker will begin next year. The fearless leaders will continue to whip until morale improves.

 

[anonymous]

Thank OP for your honest comments. I go to this site often to try and share real insight and input into what is happening in this company. I have been here almost 25 years and spent half my career in the field and the other half in HQ in various marketing roles. I know many, many people at this company and have worked for and with a lot of the senior managers. This message is not for the negative people who have nothing better to do then trash posters but those instead who are looking for honest input on our organization. I have told you for some time that changes were coming and now they are here. For those that survive this massacre I would not stay here. This company has been run by the same people for years and until they leave, nothing will change. The CEO is clueless and the 2nd in command wants nothing other than the CEO's job. The board loves the 2nd in command meanwhile the #1 today hates him. Can you believe this? Yes, it is true and really sad. Look at the leadership through this cyber attack. There was none!!! Look at the culture. We used to have one that we were proud of, today forget it. Look at who gets promoted. We used to shake our heads in agreement when someone got promoted. Today we say, WTF? I could go on and on but will not. This is no longer a place to build a career and a future. If you are here today get out as soon as you can, if you are thinking of joining look elsewhere, if you are close to retirement suck this pig for as long as you can. With Januvia tanking in the US and other products floundering, where is future revenue coming from? Keytruda? Sure but what's next, our new product for cough? That will be as successful as belsomra, atorzet, grastek. After Keytruda, there is nothing. I don't give a shit what management says. Recently # 2 said he was optimistic about the commercialization of anacetrapib when all of us knew in HQ that the long half life was a problem along with other commercial issues. Come on!,It's really unfortunate how those in charge have destroyed this once great company.

Ken F's business model continues. No growth. Just announces cost cutting measures when he needs to pump up the analysts at quarterly meetings. Men's skills as an attorney are all about managing risk. Since taking over, his trajectory has been to liquidate Merck's assets. It actually is a brilliant plan for him. He downsizes the pipeline, real estate and headcount which increases short-term earnings. Of course, this model is not sustainable, he doesn't care, he soon will be retiring. Gordon Gecko would be proud.

 

[anonymous]

I have over 27 years in sales. Was it perfect, no. Was it stressful, no. Did I make a lot of money, yes.
Does the benefits of working for Merck outweigh the risks, Yes. Did I have a lot better career than most people, yes. Was if fun, first 16, yes, last 9 not really.
So there you have it...it really was a great place to work, a rep in VA.

 

[anonymous]

I have over 27 years in sales. Was it perfect, no. Was it stressful, no. Did I make a lot of money, yes.
Does the benefits of working for Merck outweigh the risks, Yes. Did I have a lot better career than most people, yes. Was if fun, first 16, yes, last 9 not really.
So there you have it...it really was a great place to work, a rep in VA.

"Was" is the critical word in this post.

 

[anonymous]

I am really do not like people using with tone. I think the point that has been raised is fair and interesting and deserves something better than the trash I have seen. we should not forget to be polite, even in internet.

I believe Merck is not that bad as you described and yet I think that management has to do to something to change the negative trend that has started. They have the cash for a new acquisition and they have shown that they can successfully integrate companies...more M&A

 

[anonymous]

The future is definitely not good. Januvia sales will start to erode as the competition gets more crowded in the diabetes market, the SGLT2 will be a dud because it is too late to the dance, Keytruda sales will eventually level off, Zostavax will drop like a rock with new competitor, Pneumovax will decline soon, Gardisil will level off, there is nothing new coming that will bring any real revenue, terrible leaders, no realistic vision. The pressure cooker will begin next year. The fearless leaders will continue to whip until morale improves.

 

[anonymous]

While you are wallowing in negativity, look at past performance: Lipitor was third to market. If....big if...Ertugliflozin comes to market with strong data, it could dominate. Why would Merck sleep with the devil, Pfizer?

If you aren't used to re-org's every two years, you might want to go into another sales field. It's the norm for pharma.

 

[anonymous]

While you are wallowing in negativity, look at past performance: Lipitor was third to market. If....big if...Ertugliflozin comes to market with strong data, it could dominate. Why would Merck sleep with the devil, Pfizer?

If you aren't used to re-org's every two years, you might want to go into another sales field. It's the norm for pharma.

Reorganization every 2 Years is no way to live and is not a good career choice.