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Merck Names Peter Loescher to Newly Created Position of President, Global Human Health; Health Care Industry Veteran With Broad Global Experience to Lead Merck's Marketing and Sales Operations Worldwide

Posted on: Monday, 3 April 2006, 09:01 CDT

Merck & Co., Inc. today announced that Peter Loescher, president and chief executive officer, GE Healthcare Bio-Sciences, and member of GE's Corporate Executive Council, has been named to Merck's newly created position of president, Global Human Health, effective May 1, 2006.

Mr. Loescher will oversee more than 35,000 employees and have direct responsibility for Merck's four marketing and sales divisions: U.S. Human Health, Human Health Asia Pacific, Human Health Intercontinental (Europe, Middle East, Africa, Canada and Latin America), and Merck Vaccines. He will be responsible for preparing, launching and marketing new products to maximize their long-term potential; optimizing the performance of existing Merck products; and ensuring a high-performing marketing and sales operation worldwide. Mr. Loescher will report directly to Richard T. Clark, Merck's chief executive officer and president.

"One of the key elements of Merck's strategy, which was unveiled in December, is the creation of a new sales and marketing model that is leaner, more nimble, more information- and value-driven, and much more cost-effective," said Mr. Clark. "We created this position to refine our global strategies, strengthen our approach to launching, marketing and selling our products worldwide and, as a result, generate greater efficiencies and effectiveness."

Mr. Clark continued: "In filling this critical position, we looked for someone with experience both within and beyond the pharmaceutical industry who could bring new approaches and ideas to the Company, along with a proven ability to drive change and growth. We found that person in Peter Loescher. He brings to Merck a breadth of experience across the health care continuum, from diagnostics to pharmaceuticals; strong global experience having worked and lived on three continents; and an extraordinary ability to develop strategic and operational programs that transform companies and drive growth."

"This is a terrific opportunity to work with Merck's very talented management team to help bring the Company back to greatness," Mr. Loescher said. "Merck was once at the pinnacle of the pharmaceutical industry and it is clear to me that Dick Clark, the Merck Board and management team are committed to returning the Company to that position. I am honored and excited to join Merck at such a defining moment in its history."

A native of Austria, Mr. Loescher is a veteran of the health care industry with significant global experience. Since 2004, he has served as president and chief executive officer, GE Healthcare Bio-Sciences, a $3 billion global organization headquartered in the United Kingdom with 10,000 employees that includes the medical diagnostics and life sciences businesses. While at GE, he also was appointed to the company's Corporate Executive Council, assumed responsibility for GE Healthcare's Government Advocacy Program where he interacted with governments and payors worldwide, and represented GE in discussions with all pharmaceutical enterprises.

Mr. Loescher joined GE in 2004 after it acquired Amersham plc, where he served as chief operating officer and member of the Board of Directors. He started with Amersham as president, Amersham Health and member of its Board of Directors in 2002. Under his leadership, Amersham reinvented its $1.6 billion health and diagnostics business and had record-breaking business performance based on building global brands.

Prior to joining Amersham, Mr. Loescher served for more than 16 years in senior management roles in the pharmaceutical industry, including as chairman, president and chief executive officer for Aventis Pharma Japan from 2000 to 2002. During his tenure, Aventis was one of the fastest growing pharmaceutical companies in Japan with an overall growth rate that improved from 2 to 17 percent in two years. While at Aventis, he also served as chairman of the European Federation of Pharmaceutical Industries and Associations (EFPIA Japan), a pharmaceutical trade association. Previously, Mr. Loescher held a variety of international leadership roles at Hoechst, Aventis' predecessor, which he joined in 1988.

Mr. Loescher, 48, is an MBA graduate of the Vienna University School of Economics, who also has studied at the Chinese University of Hong Kong and at Harvard Business School. He is married and the father of three children ages 11, 9 and 2.

About Merck

Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891, Merck currently discovers, develops, manufactures and markets vaccines and medicines to address unmet medical needs. The Company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. For more information, visit www.merck.com.

Merck Forward-Looking Statement

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Merck's business, particularly those mentioned in the cautionary statements in Item 1 of Merck's Form 10-K for the year ended Dec. 31, 2005, and in its periodic reports on Form 10-Q and Form 8-K, which the Company incorporates by reference.

Source: Business Wire

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