After 29 years with the company, Ken Frazier, CEO of Merck, says goodbye in a wry tone.
In his latest earnings call on Thursday morning, the expectant retiree announced that Merck’s sales fell 1% in the first quarter, missed analyst expectations and became the latter in a string of disappointing Big Pharma earnings results.
Frazier steered Merck through a rough Q1 marked by the company’s decision to scrap its Covid-19 vaccine programs (and later a licensed Covid therapy from OncoImmune), a CRL for Crown Jewel Keytruda in triple negative breast cancer, and a withdrawal of the blockbuster’s approval in metastatic small cell lung cancer.
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