Abstract
Major drug firms generally had a good year in 2019, with many posting healthy growth in sales and earnings compared with 2018. At the same time, companies are reimagining their research organizations and narrowing the scope of their businesses. Merck & Co. saw earnings in 2019 increase by about 15% based on a sales rise of nearly 11%. Much of that improvement can be attributed to its immuno-oncology drug Keytruda, which brought in $11 billion in sales—a jump of nearly 60% from 2018. In tandem with its annual earnings report, Merck said it would spin off three units—women’s health, legacy brands, and biosimilars—into an independent, publicly traded company. The move will narrow Merck’s focus to oncology, vaccines, hospital products, and animal health, while shrinking its manufacturing footprint by roughly 25%. GlaxoSmithKline also detailed plans to separate into two companies, one focused on biopharmaceuticals and the other on consumer health care.
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