Merck is spinning off products from its women’s health, legacy brands, and biosimilars franchises into a new independent, publicly traded company (“NewCo”)

Materials and Resources

Merck Announces Appointment of Organon & Co. Chief Financial Officer and Chief Information Officer

KENILWORTH, N.J., May 18, 2020 – Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the appointment of Matthew Walsh and Rachel Stahler as Chief Financial Officer and Chief Information Officer, respectively, for Organon & Co., its intended spinoff of its women’s health, legacy brands and biosimilars businesses. 

In his new role at Organon, Matt will be responsible for the development and execution of the company’s overall financial strategy, and will oversee corporate financial planning, tax, audit, treasury, investor relations and business development. He will join Organon from Allergan where he served as Executive Vice President (EVP) and Chief Financial Officer (CFO). A seasoned finance executive with over 15 years of public company CFO experience, Matt has notable expertise in mergers and acquisitions, including 11 acquisitions and integrations and five divestitures during his nine-year tenure at Catalent where he served as EVP, CFO.

Merck Announces Organon & Co. as New Company Name for Planned Spinoff

KENILWORTH, N.J., March 11, 2020 – Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that Organon & Co. will be the name of the new company to be created through the intended spinoff of its women’s health, trusted legacy brands and biosimilars businesses.

Organon has been an important part of Merck since the 2009 Schering-Plough acquisition. The Organon name has strong brand equity and engenders great respect among health care professionals for its dedication and innovation in women’s health.

News Release

KENILWORTH, N.J., Feb. 5, 2020 – Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced its intention to spin-off products from its Women’s Health, trusted Legacy Brands, and Biosimilars businesses into a new, yet-to-be-named, independent, publicly traded company. The spinoff will allow both management teams to drive increased responsiveness to the particular needs of their patients and customers and achieve faster growth through focused and fit-for-purpose operating models.

Merck will continue to benefit from strong growth across its current key pillars of Oncology, Vaccines, Hospital and Animal Health, while remaining fully committed to investing in research and development in pursuit of breakthrough innovations across all areas of science and to driving value from its deep late-stage pipeline. As a premier research-intensive biopharmaceutical company, Merck will continue its pursuit to advance the prevention and treatment of diseases that threaten people and communities around the world.

Investor Presentation

Kenneth C. Frazier, Chairman and CEO of Merck & Co., Inc.

  • Served as the chairman and CEO of Merck & Co., Inc. (Merck) since 2011
  • Under Frazier’s leadership, Merck is delivering innovative lifesaving medicines and vaccines as well as long-term and sustainable value to its multiple stakeholders. Frazier has substantially increased Merck’s investment in research while refocusing the organization on the launch and growth of key products that provide benefit to society
  • Previously served as president of Merck; executive vice president and president, Global Human Health; and executive vice president and general counsel at Merck
  • Prior to joining Merck, Frazier was a partner with the Philadelphia, PA, law firm Drinker Biddle & Reath
  • Sits on boards of PhRMA, Weill Cornell Medicine, Exxon Mobil Corporation, and Cornerstone Christian Academy in Philadelphia
  • Member of the American Academy of Arts and Sciences, American Philosophical Society, Business Council, Council of the American Law Institute, and American Bar Association

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Kevin Ali, Appointed CEO of NewCo

  • Currently serves as senior vice president, leading Merck’s enterprise portfolio strategy including responsibility for strategic review of Merck’s Human Health portfolio, and reports directly to Chairman and CEO Kenneth C. Frazier
  • Has 3 decades of pharmaceutical and commercial experience with extensive knowledge of Merck’s portfolio and operations, as well as the pharmaceutical industry and customer landscape
  • Previously president of MSD International, where he established a central organizational structure and led Merck’s operations in all countries outside the US, a significant driver of the company’s growth and financial results
  • In his prior role as president of emerging markets, Ali achieved sustained growth performance in many markets, and introduced several important commercial partnerships and agreements critical to market expansion
  • Prior senior leadership roles include senior vice president and general manager of the Bone, Respiratory, Immunology, and Dermatology franchise; senior vice president and managing director of MSD Germany; and managing director of MSD Turkey, among others

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Carrie Cox, Chairman of NewCo

  • Former chairman and CEO of Humacyte from 2010 until June 2018, and executive chairman into 2019
  • Previously executive vice president and president of Global Pharmaceuticals at Schering-Plough from 2003 until its merger with Merck in November 2009. Under her leadership, the business delivered substantial revenue growth
  • Prior roles included president of Global Prescription Business at Pharmacia Corporation, senior vice president of global business management at Pharmacia & Upjohn (Pharmacia’s predecessor), and vice president of Women’s Healthcare at Wyeth-Ayerst
  • Currently on the Boards of Directors of Texas Instruments, Cardinal Health, and Selecta Biosciences
  • Named 6 times to FORTUNE Magazine’s list of the “50 Most Powerful Women in Business” and featured in the Harvard Business Review and in The New York Times bestseller The Profit Zone

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Matthew Walsh, Appointed CFO of NewCo

  • Joins NewCo from Allergan, where he served as Executive Vice President and Chief Financial Officer since February 2018
  • Seasoned finance executive with over 15 years of public company CFO experience. Brings a healthcare background from his prior role with Allergan and from Catalent, where he served as EVP, CFO for 10 years
  • Before Catalent, served as President, CFO and Acting CEO at Escala Group, Inc.
  • Previously held a variety of finance leadership roles at GenTek, Inc., including Vice President-Finance & Chief Financial Officer, Vice President & Treasurer and Group Controller

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Rachel Stahler, Appointed CIO of NewCo

  • Joins NewCo from Allergan where she recently served as CIO
  • Brings expertise in a broad range of information technology disciplines combined with a passion for bringing innovative new treatments to patients in need
  • Prior to Allergan, held CIO positions in multiple global healthcare organizations including Syneos Health/Inventiv Health and Optimer Pharmacueticals
  • Spent eight years at Pfizer, Inc., where she held senior level roles in its pharmaceutical and diversified businesses, including technology lead for a Global Center of Excellence for a significant business unit and global technology leadership positions for sales, marketing, market access, strategy and multiple therapeutic areas
  • Previously worked as a consultant at PriceWaterhouseCoopers

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