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57-602: The Institute is active in research and development , project management , software engineering , product engineering , testing and qualification of software and hardware products and processes and training and education programs. For these purposes, it maintains several laboratories for testing, safety standards, acoustics , radio frequency , etc. The Institute has technological partnerships with companies such as Dell , Borland , Citrix , Intel , Mentor Graphics , Microsoft , Motorola , Sun Microsystems and IBM . This Brazilian corporation or company article

114-465: A human monoclonal antibody used as an immunosuppressive drug that had $ 838 million in 2020 revenue; RotaTeq, a rotavirus vaccine that had $ 797 million in 2020 revenue; and Lynparza ( olaparib ), a medication for the maintenance treatment of BRCA-mutated advanced ovarian cancer in adults that generated $ 725 million in 2020 revenue for the company. Details of Merck's major products are as follows: Merck & Co. publishes The Merck Manuals ,

171-487: A varicella vaccine used to protect against chickenpox that had $ 1.9 billion in 2020 revenues; Bridion ( Sugammadex ), a neuromuscular-blocking drug that had $ 1.2 billion in 2020 revenue; and Pneumovax 23 , a pneumococcal polysaccharide vaccine that had $ 1.1 billion in 2020 revenue. Other major products by the company include Isentress ( raltegravir ), an antiretroviral medication used to treat HIV/AIDS that had $ 857 million in 2020 revenue; Simponi ( golimumab ),

228-652: A "change-of-control" in order to preserve Schering-Plough's rights to market Remicade . A settlement with Johnson & Johnson was reached in 2011, in which Merck agreed to pay $ 500 million. Merck Sharp & Dohme remains a subsidiary of the Merck & Co. parent. Richard Clark retired as CEO and company president in October 2011 and Kenneth Frazier became CEO. In October 2013, Merck announced it would cut 8,500 jobs in an attempt to cut $ 2.5 billion from its costs by 2015. Combined with 7,500 job cuts announced in 2011 and 2012,

285-516: A German-born, long-time Merck employee, Theodore Weicker, went to the United States to represent Merck Group. In 1891, with $ 200,000 received from E. Merck, Weicker started Merck & Co., with headquarters in lower Manhattan. That year George Merck, the 23-year-old son of the then head of E. Merck (and grandson of the founder) joined Weicker in New York. Merck & Co. operated from 1891 to 1917 as

342-570: A HIF-2alpha inhibitor for Von Hippel–Lindau disease -associated renal cell carcinoma , for up to $ 2.2 billion. In June 2019, Merck announced it would acquire Tilos Therapeutics for up to $ 773 million. In November 2019, the company acquired Calporta, which focused on Parkinsons and Alzheimers treatments. In December 2019, Merck Animal Health acquired Vaki, an aquaculture company, from Pentair . In January 2020, Merck acquired ArQule, developer of ARQ 531 , an oral Bruton's tyrosine kinase (BTK) inhibitor, for $ 2.7 billion. In March 2020, Merck

399-513: A candidate to target the retinoic acid-inducible gene I pathway, for $ 554 million. In October 2017, the company granted the inaugural Merck-AGITG Clinical Research Fellowship in Gastro-Intestinal (GI) Cancer to David Lau, a professional in Melbourne, Australia. In June 2018, Merck acquired Viralytics , an Australian viral cancer drug company, for AUD$ 502 million. In 2018, Merck began

456-452: A company, or can be out-sourced to a contract research organization, universities , or state agencies. In the context of commerce , "research and development" normally refers to future-oriented, longer-term activities in science or technology , using similar techniques to scientific research but directed toward desired outcomes and with broad forecasts of commercial yield. Statistics on organizations devoted to "R&D" may express

513-544: A potential $ 4.4 billion in milestone payments for the Abylnx. The company also announced it would spend $ 95 million up front collaborating with cCAM Biotherapeutics and its early-stage treatment similar to Keytruda. Merck & Co. will bring in CM-24, an antibody designed to block the immune checkpoint CEACAM1 . In January 2016, Merck announced two new partnerships; the first with Quartet Medicine and its small molecule pain treatments,

570-459: A scientist at Merck, developed the first mumps vaccine in 1967, the first rubella vaccine in 1969, and the first trivalent measles, mumps, rubella ( MMR vaccine ) in 1971. The incidence of rubella-associated birth defects fell from up to 10,000 per year in the U.S. to zero in the aftermath of the rubella vaccine's development. Hilleman also developed the first Hepatitis B vaccine and the first varicella vaccine , for chickenpox. The company

627-555: A series of medical reference books for physicians, nurses, technicians, and veterinarians. These include the Merck Manual of Diagnosis and Therapy , the world's best-selling medical reference. The Merck Index , a compendium of chemical compounds, was published by Merck & Co. until it was acquired by the Royal Society of Chemistry in 2012. Merck & Co. traces its origins to its former German parent company Merck Group , which

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684-445: A way of amortizing the high overhead. They often reuse advanced manufacturing processes, expensive safety certifications, specialized embedded software, computer-aided design software, electronic designs and mechanical subsystems. Research from 2000 has shown that firms with a persistent R&D strategy outperform those with an irregular or no R&D investment program. Research and development are very difficult to manage, since

741-425: Is a stub . You can help Misplaced Pages by expanding it . Research and development Research and development ( R&D or R+D ) is the set of innovative activities undertaken by corporations or governments in developing new services or products. R&D constitutes the first stage of development of a potential new service or the production process. Although R&D activities may differ across businesses,

798-581: Is an American multinational pharmaceutical company headquartered in Rahway, New Jersey , and is named for Merck Group , founded in Germany in 1668, of which it was once the American arm. The company does business as Merck Sharp & Dohme or MSD outside the United States and Canada. It is one of the largest pharmaceutical companies in the world, generally ranking in the global top five by revenue. Merck & Co.

855-653: Is appealing to bidders because they could gain technologies from acquisition targets. Therefore, firms may gain R&;D profit that co-moves with takeover waves, causing risks to the company which engages in R&D activity. Global R&D management is the discipline of designing and leading R&D processes globally, across cultural and lingual settings, and the transfer of knowledge across international corporate networks. Former President Barack Obama requested $ 147.696 billion for research and development in FY 2012, 21% of which

912-810: Is called " R&D intensity ". A high technology company, such as a computer manufacturer, might spend 7% or a pharmaceutical companies such as Merck & Co. 14.1% or Novartis 15.1%. Anything over 15% is remarkable, and usually gains a reputation for being a high technology company such as engineering company Ericsson 24.9%, or biotech company Allergan , which tops the spending table with 43.4% investment. Such companies are often seen as credit risks because their spending ratios are so unusual. Generally such firms prosper only in markets whose customers have extreme high technology needs, like certain prescription drugs or special chemicals, scientific instruments , and safety-critical systems in medicine, aeronautics or military weapons . The extreme needs justify

969-476: Is followed by textiles (19%), digital (18%), and aerospace (15%). Other sectors allocate less than 10% of their total investment to R&D. While 17% of the world’s top R&D investors are based in the European Union, they accounted for only 1% of acquisitions involving EU-based companies between 2013 and 2023. In 2015, research and development constituted an average 2.2% of the global GDP according to

1026-571: Is lower than the EU average of 18%. In 2022, 67% of enterprises in the same region deployed at least one sophisticated digital technology, and 69% EU firms did the same. As of 2023, European enterprises account for 18% of the world's top 2 500 R&D corporations, but just 10% of new entrants, compared to 45% in the United States and 32% in China. As of 2024, the electronics sector leads in R&D investment, with 28% of its total investment dedicated to it. This

1083-447: Is often a crucial factor in the survival of a company. In a global industrial landscape that is changing fast, firms must continually revise their design and range of products. This is necessary as well due to the fierce competition and the evolving preferences of consumers. Without an R&D program, a firm must rely on strategic alliances , acquisitions , and networks to tap into the innovations of others. A system driven by marketing

1140-435: Is one that puts the customer needs first, and produces goods that are known to sell. Market research is carried out, which establishes the needs of consumers and the potential niche market of a new product. If the development is technology driven, R&D is directed toward developing products to meet the unmet needs. In general, research and development activities are conducted by specialized units or centers belonging to

1197-447: The Europe 2020 strategy which will run from 2014 to 2020, a multidisciplinary effort to provide safe, economically feasible, environmentally sound and socially acceptable solutions along the entire value chain of human activities. Firms that have embraced advanced digital technology devote a greater proportion of their investment efforts to R&D. Firms who engaged in digitisation during

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1254-611: The Office of Chief Scientist In the 1980s to 1992, the Chief scientist of Israel significantly expanded R&D subsidies in the Israeli industrial sector. Israel invested in the creation of clusters of startups in the high-tech sector as well as venture capital investments. In 1993, Israel initiated the Yozma program , which led to the doubling of value of Israel's 10 new venture capital funds in 3 years. In

1311-606: The UNESCO Institute for Statistics . By 2018, research and development constituted an average 1.79% of the global GDP according to the UNESCO Institute for Statistics . Countries agreed in 2015 to monitor their progress in raising research intensity (SDG 9.5.1), as well as researcher density (SDG 9.5.2), as part of their commitment to reaching the Sustainable Development Goals by 2030. However, this undertaking has not spurred an increase in reporting of data. On

1368-703: The 2022 Forbes Global 2000 , both based on 2021 revenues. In 2023, the company’s seat in Forbes Global 2000 was 73. The company develops medicines , vaccines , biologic therapies and animal health products. In 2020, the company had 6 blockbuster drugs or products, each with over $ 1 billion in revenue: Keytruda ( pembrolizumab ), a humanized antibody used in cancer immunotherapy that had $ 14.3 billion in 2020 revenue; Januvia ( sitagliptin ), an anti-diabetic medication used to treat type 2 diabetes that had $ 5.3 billion in 2020 revenue; Gardasil , an HPV vaccine that had $ 3.9 billion in 2020 revenue; Varivax,

1425-697: The US subsidiary of the Merck Group . After the U.S. entered World War I , due to its German connections, Merck & Co. was the subject of expropriation under the Trading with the Enemy Act of 1917 . The government seized 80 percent of the shares owned by the German parent company and sold it. In 1919, George F. Merck (head of the American branch of the Merck family), in partnership with Goldman Sachs and Lehman Brothers , bought

1482-432: The air. New machines were installed to reduce smog emissions by 680,000 lb (310,000 kg) a year. In November 1993, Merck & Co. acquired Medco Containment Services for $ 6 billion. Merck & Co. spun Medco off ten years later. Merck's supply chain reduction programme has been referred to as an example of successful change. Merck reduced its number of global suppliers from 40,000 to less than 10,000 during

1539-493: The company acquired Afferent Pharmaceuticals, developer of a candidate used to block P2RX3 receptors, for approximately $ 1 billion, plus up to $ 750 million in milestone payments. In 2017, Merck bought the PARP inhibitor Lynparza from AstraZeneca. In April 2017, Merck Animal Health acquired Vallée S.A., a Brazilian animal health product manufacturer. In September 2017, the company announced it would acquire Rigontec, developer of

1596-507: The company back at a U.S. government auction for $ 3.5 million, but Merck & Co. remained a separate company from its former German parent. Merck & Co. holds the trademark rights to the "Merck" name in the United States and Canada, while its former parent company retains the rights in the rest of the world; the right to use the Merck name was the subject of litigation between the two companies in 2016. In 1925, George W. Merck succeeded his father George F. Merck as president. In 1927,

1653-451: The company renegotiated the agreement, returning the rights to the university in exchange for a royalty. The university then set up non-exclusive licenses with seven companies to ensure a reliable supply of the antibiotic. In the 1950s, thiazide diuretics were developed by Merck scientists Karl H. Beyer, James M. Sprague, John E. Baer, and Frederick C. Novello and led to the marketing of the first drug of this class, chlorothiazide , under

1710-439: The company sold its consumer health business to Bayer and narrowed the company's focus to immunology, vaccines, diabetes, emerging markets and medicines used in hospitals, like certain antibiotics. In January 2015, Merck acquired Cubist Pharmaceuticals for $ 102 per share in cash or about $ 9.5 billion in total. In July 2015, Merck and Ablynx expanded their 18-month-old immuno-oncology collaboration by four years, generating

1767-478: The contrary, a total of 99 countries reported data on domestic investment in research in 2015 but only 69 countries in 2018. Similarly, 59 countries recorded the number of researchers (in full-time equivalents) in 2018, down from 90 countries in 2015. UNESCO Institute for Statistics is the global custodian of these R&D data; data can be freely obtained from the UIS database . Merck %26 Co. Merck & Co., Inc.

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1824-547: The corporation merged with the Powers- Weightman -Rosengarten Company, a Philadelphia quinine manufacturer. George Merck remained president and Frederic Rosengarten became chairman of the board. In 1929, H. K. Mulford Company merged with Sharp and Dohme, Inc. and brought vaccine technology, including immunization of cavalry horses in World War I and delivery of a diphtheria antitoxin to Merck & Co. In 1943, Streptomycin

1881-411: The defining feature of research is that the researchers do not know in advance exactly how to accomplish the desired result. As a result, "higher R&D spending does not guarantee more creativity, higher profit or a greater market share". Research is the most risky financing area because both the development of an invention and its successful realization carries uncertainty including the profitability of

1938-510: The first member of the carbapenem class of antibiotics. Antibiotics of the carbapenem class play an important role in treatment guidelines for certain hospital-acquired and multi-drug resistant infections. P. Roy Vagelos became CEO and Chairman that year, succeeding Horan. In 1991, Merck's Kelco subsidiary was responsible for volatile organic compound (VOC) emission pollution in the San Diego area. In 1996 Merck paid $ 1.8 million for polluting

1995-445: The high risk of failure and consequently high gross margins from 60% to 90% of revenues. That is, gross profits will be as much as 90% of the sales cost, with manufacturing costing only 10% of the product price, because so many individual projects yield no exploitable product. Most industrial companies get 40% revenues only. On a technical level, high tech organizations explore ways to re-purpose and repackage advanced technologies as

2052-782: The invention. One way entrepreneurs can reduce these uncertainties is to buy the licence for a franchise, so that the know-how is already incorporated in the licence. In general, it has been found that there is a positive correlation between the research and development and firm productivity across all sectors, but that this positive correlation is much stronger in high-tech firms than in low-tech firms. In research done by Francesco Crespi and Cristiano Antonelli, high-tech firms were found to have "virtuous" Matthew effects while low-tech firms experienced "vicious" Matthew effects, meaning that high-tech firms were awarded subsidies on merit while low-tech firms most often were given subsidies based on name recognition, even if not put to good use. While

2109-566: The journal actually reprinted articles that originally appeared in other publications and that were favorable to Merck. The misleading publication came to light in 2009 during a personal injury lawsuit filed over Vioxx; 9 of 29 articles in the journal's second issue referred positively to Vioxx. The CEO of Elsevier's Health Sciences Division, Michael Hansen, admitted that the practice was "unacceptable". In 2005, CEO Raymond Gilmartin retired following Merck's voluntary worldwide withdrawal of Vioxx . Former president of manufacturing Richard Clark

2166-503: The late 1990s, Israel was second only to the US in private equity as a share of the general economy. The high tech sector in Israel, known as Silicon Wadi , which earned Israel the nickname - Start-up Nation , was ranked the 4th leading startup ecosystem in the world by Startup genome with a value of $ 253billion in 2023. Europe is lagging behind in R&D investments from the past two decades. The target of 3% of gross domestic product (GDP)

2223-410: The layoffs amounted to 20% of its workforce. By 2014, research performed at Merck has led to U.S. FDA approval of 63 new molecular entities . In August 2014, Merck acquired Idenix Pharmaceuticals for $ 3.85 billion. In December 2014, the company acquired Swiss biotechnology company OncoEthix for up to $ 375 million. Between 2010 and 2015, the company cut around 36,450 jobs. During that time,

2280-491: The name Mectizan; today the compound is used against river blindness , lymphatic filariasis , scabies and other parasitic infections. In 1982, the company formed a joint venture , KBI Inc., with AstraZeneca . During the late 1980s and 1990s, the company also established joint ventures with DuPont to access research and development expertise, and with Johnson & Johnson to sell over-the-counter consumer medications. In 1985, Merck received approval for imipenem ,

2337-473: The pandemic report spending a big portion of their expenditure in 2020 on software, data, IT infrastructure, and website operations. A 2021/2022 survey found that one in every seven enterprises in the Central, Eastern and South Eastern regions (14%) may be classed as active innovators — that is, firms that spent heavily in research and development and developed a new product, process, or service — however this figure

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2394-576: The period from 1992 to 1997. In May 2002, The Bill & Melinda Gates Foundation purchased stock in Merck. From 2002 through 2005, the Australian affiliate of Merck paid publishing house Elsevier an undisclosed amount to produce eight issues of a medical journal, the Australasian Journal of Bone and Joint Medicine . Although it gave the appearance of being an independent peer-reviewed journal, without any indication that Merck had paid for it,

2451-457: The primary goal of an R&D department is to develop new products and services. R&D differs from the vast majority of corporate activities in that it is not intended to yield immediate profit, and generally carries greater risk and an uncertain return on investment . R&D is crucial for acquiring larger shares of the market through new products. R&D&I represents R&D with innovation. New product design and development

2508-447: The second with Complix investigating intracellular cancer targets, with both collaborations potentially generating up to $ 595 million and $ 280 million respectively. Days later the company announced it would acquire IOmet Pharma, with IOmet becoming a wholly owned subsidiary of Merck & Co. The acquisition includes IOmets indoleamine-2,3-dioxygenase 1 (IDO), tryptophan 2,3-dioxygenase (TDO), and dual-acting inhibitors. In July 2016,

2565-433: The state of an industry , the degree of competition or the lure of progress . Some common measures include: budgets , numbers of patents or on rates of peer-reviewed publications . Bank ratios are one of the best measures, because they are continuously maintained, public and reflect risk. In the United States, a typical ratio of research and development for an industrial company is about 3.5% of revenues; this measure

2622-490: The strength of the correlation between R&D spending and productivity in low-tech industries is less than in high-tech industries, studies have been done showing non-trivial carryover effects to other parts of the marketplace by low-tech R&D. Business R&D is risky for at least two reasons. The first source of risks comes from R&D nature, where R&D project could fail without residual values. The second source of risks comes from takeover risks, which means R&D

2679-747: The submission process for a Biologics License Application to the Food and Drug Administration under the Breakthrough Therapy Designation for an investigational vaccine, called V920, to fight the Zaire strain of the Ebola virus . In April 2019, the company acquired Immune Design for approximately $ 300 million, gaining access to its immunotherapy programs. It also acquired Antelliq Group for $ 2.4 billion, or $ 3.7 billion including debt. In May 2019, Merck announced it would acquire Peloton Therapeutics, developer of

2736-621: The trade name Duiril in 1958. The research leading to the discovery of chlorothiazide, leading to "the saving of untold thousands of lives and the alleviation of the suffering of millions of victims of hypertension" was recognized by a special Public Health Award from the Lasker Foundation in 1975. In 1953, Merck & Co. merged with Philadelphia-based Sharp & Dohme, Inc., becoming the largest U.S. drugmaker. Sharp and Dohme had acquired H. K. Mulford Company in 1929, adding smallpox vaccines to its portfolio. The combined company kept

2793-462: The trade name Merck in the United States and Canada, and as Merck Sharp & Dohme (MSD) outside North America. In 1965, Merck & Co. acquired Charles Frosst Ltd. of Montreal (founded 1899), creating Merck-Frosst Canada, Inc., as its Canadian subsidiary and pharmaceutical research facility. Merck & Co. closed this facility in July 2010 but remerged in 2011 as Merck Canada. Maurice Hilleman ,

2850-471: Was destined to fund basic research. According to National Science Foundation in U.S., in 2015, R&D expenditures performed by federal government and local governments are 54 and 0.6 billions of dollars. The federal research and development budget for fiscal year 2020 was $ 156 billion, 41.4% of which was for the Department of Defense ( DOD ). DOD's total research, development, test, and evaluation budget

2907-530: Was discovered during a Merck-funded research program in Selman Waksman's laboratory at Rutgers University . It became the first effective treatment for Tuberculosis . At the time of its discovery, sanatoriums for the isolation of tuberculosis-infected people were a ubiquitous feature of cities in developed countries, with 50% dying within 5 years of admission. Although Merck's agreement with Rutgers gave it exclusive rights to streptomycin, at Waksman's request

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2964-528: Was established by the Merck family in 1668 when Friedrich Jacob Merck purchased a drug store in Darmstadt . In 1827, Merck Group evolved from a pharmacy to a drug manufacturer company with the commercial manufacture of morphine . Merck perfected the chemical process of deriving morphine from opium and later introduced cocaine , used to treat sinus problems and to add to beverages to boost energy levels. In 1887

3021-591: Was incorporated in New Jersey in 1970. John J. Horan became CEO and Chairman in 1976, serving until 1985. Under his leadership, the company's investment in R&D grew threefold, and Merck became the largest pharmaceutical company in the world. In 1979, Merck scientists developed lovastatin ( Mevacor ), the first drug of the statin class. Merck scientist William C. Campbell and Satoshi Ōmura developed ivermectin for veterinary use in 1981, and later put it to human use against Onchocerciasis in 1987–88 with

3078-519: Was meant to be reached by 2020, but the current amount is below this target. This also causes a digital divide among countries since only a few EU Member States have R&D spending. Research and innovation in Europe are financially supported by the programme Horizon 2020 , which is open to participation worldwide. A notable example is the European environmental research and innovation policy , based on

3135-412: Was named CEO and company president. In November 2009, Merck & Co. completed a merger with Schering-Plough in a US$ 41 billion deal. Although Merck & Co. was in reality acquiring Schering-Plough, the purchase was declared a "reverse merger", in which "Old" Merck & Co. was renamed Merck Sharp & Dohme, and Schering-Plough renamed as "Merck & Co., Inc. The maneuver was an attempt avoid

3192-430: Was originally established as the American affiliate of Merck Group in 1891. Merck develops and produces medicines, vaccines, biologic therapies and animal health products. It has several blockbuster products, including cancer immunotherapy , anti-diabetic medications, and vaccines for HPV and chickenpox , each generating significant revenue as of 2020. The company is ranked 71st on the 2022 Fortune 500 and 87th on

3249-503: Was roughly $ 108.5 billion. Israel is the world leader in spending on R&D as a percentage of GDP as of 2022, spending 6.02%. According to CSIS, During the 1970s and 1980s Israel initially built up Israel's research infrastructure through various programs, often in the defence industry. In 1984, a law for Encouragement of Research and Development in Industry encouraged the commercial sector to invest in R&D in Israel as well as empowered

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