Merck's Medco Unit Moves 'On Track,' Chairman Gilmartin Assures Analysts

Important note: Information in this article was accurate in 1995. The state of the art may have changed since the publication date.

Merck's Medco Unit Moves 'On Track,' Chairman Gilmartin Assures Analysts

Wall Street Journal (12/13/95) P. B6
Tanouye, Elyse

Merck & Co.'s managed medical care division is living up to expectations, according to Merck Chairman Raymond Gilmartin, who was attempting to eliminate speculation that Merck was fighting to make the acquisition worthwhile. Medco is "on the track" of internal performance measures set for the unit, Gilmartin told analysts, noting that 13 percent of the drugs the unit sells are from Merck--up from 10 percent two years ago, when Medco was purchased. Meanwhile, the executive also said that Merck would try to reduce costs by as much as $250 million in manufacturing and $100 million in other areas of the company. Gilmartin added that the company intends to file for U.S. Food and Drug Administration approval of its AIDS drug Crixivan in early 1996.

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