Merck 2010 Annual Report Download - page 8
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At Merck, the pharmaceutical, chemical and life science businesses are under
one roof. We are convinced that in these sectors, the market will reward
successful research and technological advances with attractive margins.
We focus on specialty businesses. We are not interested in engaging in com-
modity markets or businesses where competition is dictated by price alone.
It all started with a pharmacy in 1668. The Angel Pharmacy, which is still owned by members of
the Merck family, is where Merck originated. Like his contemporaries, the pharmacist Friedrich
Jacob Merck prepared all medicinal substances himself. At that time, the “art of pharmacy” was
still a manual craft.
In 1816 – several generations of pharmacists later – Emanuel Merck took over his father’s
pharmacy and initiated the move from a manual craft to industrial production in 1827. In his
laboratory, he succeeded in extracting pure alkaloids, a class of highly effective plant constituents
whose medicinal effect attracted interest from the scientific community. By 1860, the company
already offered more than 800 organic and inorganic substances for sale, including many still
used in laboratories today.
The roots of the Liquid Crystals business – one of the outstanding Merck success stories – date
back to 1904. For decades, liquid crystals remained a laboratory oddity, and their sale was handled
by the Laboratory business.
Serono, which was acquired by Merck in 2007, also started out by extracting active substances.
In 1906, Cesare Serono founded the “Istituto Farmacologico Serono” in Rome and developed
a new method of extracting lecithin from egg yolk. In 1949, the company successfully isolated
pure gonadotropin from urine. Gonadotropin plays an important role in reproduction. The
production of recombinant gonadotropin transformed Serono into a biotechnology company.
Merck Annual Report 2010 4