In Line Quarter At Kenilworth; As Expected, Keytruda® Still Besting Optivo®… But Headcount Cuts Afoot.

I understand. I do. But it doesn’t make it any less. . . bitter.

Post a solid Q 2019 — showing pembrolizumab is beating the BMS immuno-oncology agent, in sales revenue rather handily. Then, slip in a $1.2 billion charge, to (among other things) close facilities and pay severance to what? 600 to 1,000 workers (Merck hasn’t said — but that’s my guess)? Who really knows. I get it — but I don’t like it (per Bloomberg, this morning):

. . . .Merck will close some plants and shed workers as part of a cost-cutting effort over the next several years. Because of the cuts, the company said it expects to take a charge of $800 million to $1.2 billion by the end of 2023. . . .

Onward, a little downbeat in truth, knowing that some fine science jobs are (once again) on the line.


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