Healthcare Industry News: Merck
News Release - September 27, 2011
Merck Names Cuong Viet Do as Chief Strategy OfficerWHITEHOUSE STATION, N.J.--(Healthcare Sales & Marketing Network)-- Merck (NYSE:MRK ), known as MSD outside the United States and Canada, today announced the appointment of Cuong Viet Do as chief strategy officer, effective Oct. 3, 2011. As chief strategy officer, Do, 45, will be responsible for both developing and executing enterprise-wide strategy and further building connections between the current and future business plans of Merck’s franchises, divisions, and functions. He will report to Kenneth C. Frazier, Merck’s president and chief executive officer, and will serve on the company’s Executive Committee. He succeeds Mervyn Turner, who retired from the company this summer.
“We are delighted to welcome Cuong as our new chief strategy officer,” said Kenneth C. Frazier, president and chief executive officer, Merck. “As the health care environment continues to evolve, Cuong's expertise in developing and implementing global business strategy will help position Merck to deliver long-term value. Cuong will work closely with senior management to ensure that Merck continues to build on our tradition of innovation that helps improve and save lives around the world.
“I want to thank Merv for the many contributions he made to Merck throughout his 26-year career here, most recently as our first-ever chief strategy officer,” added Mr. Frazier. “The framework he put in place has set the stage for a productive future, and we wish Merv all the best in retirement.”
“I am delighted to be joining Merck at such an exciting time,” said Do. “I look forward to working with the exceptional employees at Merck to further define and implement strategies that can deliver on the company’s commitment to become the world's leading health care company.”
Since 2009, Do served as senior vice president of corporate strategy and business development at TE Connectivity, formerly Tyco Electronics, a global company that designs, manufactures and markets products for customers in a variety of industries. While at TE Connectivity, Do led a global team of senior executives responsible for charting the company's overall corporate strategy, including strategies for the company's more than 20 business units and key emerging markets. He also developed the company's strategic approach to mergers and acquisitions. Prior to TE Connectivity, Do was a senior vice president at Lenovo, responsible for developing the company's strategy for emerging markets, new business adjacencies, and mergers and acquisitions. Before Lenovo, he was a director and senior partner at McKinsey & Company from 1989 to 2006, where he helped to build McKinsey’s Global Healthcare Practice and then the firm’s High Technology and Corporate Finance Practices in Asia.
Do currently sits on the board of WuXi AppTec, a pharmaceutical R&D outsourcing company. He received a Master of Business Administration degree from Amos Tuck School of Business Administration, Hanover, N.H. and a Bachelor of Arts degree in biochemistry and economics from Dartmouth College, Hanover, N.H.
Today's Merck is a global healthcare leader working to help the world be well. Merck is known as MSD outside the United States and Canada. Through our prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to healthcare through far-reaching policies, programs and partnerships. For more information, visit www.Merck.com and connect with us on Twitter, Facebook and YouTube.
This news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about the benefits of the merger between Merck and Schering-Plough, including future financial and operating results, the combined company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Merck’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the possibility that the expected synergies from the merger of Merck and Schering-Plough will not be realized, or will not be realized within the expected time period; the impact of pharmaceutical industry regulation and health care legislation; the risk that the businesses will not be integrated successfully; disruption from the merger making it more difficult to maintain business and operational relationships; Merck’s ability to accurately predict future market conditions; dependence on the effectiveness of Merck’s patents and other protections for innovative products; the risk of new and changing regulation and health policies in the U.S. and internationally and the exposure to litigation and/or regulatory actions.
Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Merck’s 2010 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).
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