Merck 2010 Annual Report Download - page 9
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Merck established initial business relationships with European neighbors in the 1820s.
Since 1900, Merck has maintained business relationships on all continents.
In the United States, Georg (later “George”) Merck, a grandson of Emanuel Merck, founded a
trading company called Merck & Co. in 1891. As a result of World War I, Merck in Darmstadt
lost its entire stake in this company under the “Trading with the Enemy Act” of 1917. George
Merck succeeded in reacquiring his interest and became president of the public company Merck
& Co. Today, the two companies are no longer linked. The U.S. company Merck & Co. owns the
exclusive rights to the name within North America while Merck in Darmstadt holds the rights
in the rest of the world. In the United States and Canada, the company operates under the name
EMD, the abbreviation for Emanuel Merck, Darmstadt.
Acquisitions and divestments have always played an important role at Merck. A decisive step
in Merck’s expansion was the acquisition of a 50% interest in the Bracco Group of Italy in
1972. Aside from commercializing contrast agents and its own pharmaceutical specialties,
Bracco served as Merck’s representative in Italy for the entire Merck product range, helping
to significantly boost Merck’s earning power. In 1991, Merck acquired the French company
Société Lyonnaise Industrielle Pharmaceutique (Lipha).
In the mid-1990s, Merck expanded its consumer health care business by acquiring Seven Seas
in the United Kingdom and Monot in France. At the same time, the acquisition of Amerpharm of
the United Kingdom gave Merck a critical mass in the generic drugs business. The takeover of a
large number of laboratory distribution businesses was rounded off with the purchase of VWR
Scientific Products, a U.S. laboratory distributor, in 1999.
5Corporate governance Consolidated Financial Statements More information
Company Management Report