Merck 2010 Annual Report Download - page 7
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On Febru-
ary 28, Merck announced the EUR 5.1 billion transaction. The legal closing of the transaction
took place on July 14. The new organization, which was merged with parts of the former
Performance & Life Science Chemicals division, started operating under its new brand identity
on January 1, 2011. Merck Executive Board Chairman Karl-Ludwig Kley said, “By combining
Millipore’s bioscience and bioprocess knowledge with our own expertise in serving life science
customers, we will be able to unlock value in our chemicals business.” Analysts also view the
acquisition as a good strategic move.
was reflected by the successful issue of a euro bond
to finance the Millipore acquisition. The EUR 3.2 billion bond was the largest issue by a German
company in Europe in 2010 and was conducted in multiple tranches in a rather difficult market
environment.
In 2010, Merck strongly expanded its presence
in China. Around 2,000 employees contributed to a sales increase of more than 30%. In Beijing,
we set up an R&D center in order to coordinate clinical trials locally. More than 200 highly
qualified positions will be created.
with the regulatory review of its new multiple sclerosis
treatment cladribine: Approvals in Russia and Australia, resubmission in the United States, a
final negative opinion on the marketing authorization application from the European Medicines
Agency. Regulators in the United States will decide on this drug in the first quarter of 2011.
To strengthen our position, we opened
the new Material Research Center at the Darmstadt site. Merck invested EUR 50 million in the
center. Angela Merkel, Chancellor of the Federal Republic of Germany, attended the inauguration
on September 23. The world’s largest OLED display – with a surface area of nearly nine square
meters – is located in the foyer of the main building.
was announced on Decem-
ber 17. The agreement involves a global research and development collaboration in oncology.
The goal is to research new, experimental combinations of agents that could block specific
signaling pathways in cancer cells. Merck hopes the collaboration will lead to new, targeted
cancer therapies with high therapeutic potential.
3Corporate governance Consolidated Financial Statements More information
Company Management Report