COX-1 mediates the synthesis of prostaglandins responsible for protection of the stomach lining, while COX-2 mediates the synthesis of prostaglandins responsible for pain and inflammation.
As is typical for pharmaceutical firms, its principle business is medicines, biologics, vaccines, and consumer and animal products. The company was founded in by George Merck, a member of the German Merck family who was tasked with setting up shop in the US to expand the business.
The original intention was to establish a distribution office for the parent company in Germany, E Merck, a manufacturer and distributor of fine chemicals. During first world war, the firm had its assets seized by the US government due to its German connections, but was allowed to reestablish itself as a new company in If the government had decided otherwise, this would have been the end of Merck.
Since then, however, Merck enjoyed relative success, for instance, discovering cortisone, vitamin B12, and streptomycin an antibiotic therapy for tuberculosis. AAP Over the decades, it has rapidly grown into one of the most powerful pharmaceutical corporations, ranked alongside powerhouses Pfizer and GlaxoSmithKline.
Merck has merged with and acquired other companies along the way. Its second near-downfall occurred early in the 21st century due to a medicine called Rofecoxib, also known as Vioxx.
This medicine belongs to the therapeutic group of nonsteroidal anti-inflammatory drugs NSAIDprimarily designed to relieve acute pain, typically taken by those suffering from arthritis. It proved to be a goldmine for Merck, and was one of the most popular drugs on the market.
There was one problem, however: Merck is alleged to have withheld critical data that surfaced in that could have enabled the FDA to take action over Vioxx, potentially preventing many deaths. The company shopped around for compliant academics who would attach their names to papers, written by Merck employees, and then submitted them to leading medical journals to give the faulty research creditability.
It is believed the settlement will cover the majority of litigants in the US. In Australia, the Federal Court last week overturned a ruling that could have seen up to former Vioxx users who suffered heart attacks to claim compensation from Merck.
The court case revealed that the company had made a hit list of doctors, researchers and academics that were critical of Vioxx. We should, however, not be surprised about the behavior of Merck, as it is the product of numerous perverse incentives provided by the flawed patent system.
The Vioxx scandal was almost a deathblow to the company, and it is unsurprising that Merck would want to keep a low profile given the extensive black mark it has earned. Although the pharmaceutical industry has a record of anti-social behavior, this episode is difficult to beat.
Along with other pharmaceutical firms, Merck faces stiff generic competition in the coming decade that will test the mettle of its management. So far, Merck has attempted to rise out of the hole it dug for itself and get back on track by developing a few high-profile drugs: Isentress, Gardasil and Januvia.
Is there a big company with a low profile that you think more people should know about?
If so, email the editor.Wiklund R&D Contributes to Merck's Label Design Project December 7, In , Wiklund R&D collaborated with Med-ERRS to help Merck design and validate its . Product Overview This case builds on the case "Merck & Company: Product KL" (UVA-QA) by providing market uncertainties for the drug (drug quality, the presence of a competitor, market growth, and the time to the drug's release).
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Elsevier was founded in and took the name and logo from the Dutch publishing house Elzevir which has no connection with the present company.
The Elzevir family operated as booksellers and publishers in the Netherlands; the founder, Lodewijk Elzevir (–), lived in Leiden and established the business in The expansion of Elsevier .
omics group has scheduled its , and international and scientific conferences, meetings, events, workshops and symposiums in america, europe, asia.
Intellectual Disability - Learn about the causes, symptoms, diagnosis & treatment from the Merck Manuals - Medical Consumer Version.