Well that didn't take long. Seconds after the resignation of Merck CEO Kenneth C. Frazier from the president's Manufacturing Council: "I am resigning from the President's American Manufacturing Council. Our country's strength stems from its diversity and the contributions made by men and women of different faiths, races, sexual orientations and political beliefs. America's leaders must honor our fundamental values by clearly rejecting expressions of hatred, bigotry and group supremacy, which run counter to the American ideal that all people are created equal. As CEO of Merck and as a matter of personal conscience, I feel a responsibility to take a stand against intolerance and extremism." President Trump has responded, via Twitter, to the resignation (and lambasting) of Merck CEO Ken Frazier... Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! — Donald J. Trump (@realDonaldTrump) August 14, 2017 And now we have the news cycle narrative for today. The first reaction is in... "How can you abide by this?" - @andrewrsorkin, on CEOs on POTUS's manufacturing council, now that POTUS has responded to Merck @CNBC — Carl Quintanilla (@carlquintanilla) August 14, 2017 Who will be next to leave? Here’s the full list of members on the new manufacturing council: Andrew Liveris, The Dow Chemical Company Bill Brown, Harris Corporation Michael Dell, Dell Technologies John Ferriola, Nucor Corporation Jeff Fettig, Whirlpool Corporation Mark Fields, Ford Motor Company Ken Frazier, Merck & Co., Inc. Alex Gorsky, Johnson & Johnson Greg Hayes, United Technologies Corp. Marillyn Hewson, Lockheed Martin Corporation Jeff Immelt, General Electric Jim Kamsickas, Dana Inc. Klaus Kleinfleld, Arconic Brian Krzanich, Intel Corporation Rich Kyle, The Timken Company Thea Lee, AFL-CIO Mario Longhi, U.S. Steel Denise Morrison, Campbell Soup Company Dennis Muilenburg, Boeing Elon Musk, Tesla Doug Oberhelman, Caterpillar Scott Paul, Alliance for American Manufacturing Kevin Plank, Under Armour Michael Polk, Newell Brands Mark Sutton, International Paper Inge Thulin, 3M Richard Trumka, AFL-CIO Wendel Weeks, Corning
Merck CEO Ken Frazier has resigned from the President's Manufacturing Council as a "matter of personal conscience" following Trump's apparent lack of rejection of "expressions of hatred, bigotry, and group supremacy." Statement from Kenneth C. Frazier, chairman and chief executive officer, Merck: "I am resigning from the President's American Manufacturing Council. Our country's strength stems from its diversity and the contributions made by men and women of different faiths, races, sexual orientations and political beliefs. America's leaders must honor our fundamental values by clearly rejecting expressions of hatred, bigotry and group supremacy, which run counter to the American ideal that all people are created equal. As CEO of Merck and as a matter of personal conscience, I feel a responsibility to take a stand against intolerance and extremism." Frazier's comments were released via Twitter: pic.twitter.com/a1PNQZism5 — Merck (@Merck) August 14, 2017 Given the White House's clarification this move seems more excuse than 'personal decision', but certyainly offers up some serious virtue signaling. Who will be next to leave? Here’s the full list of members on the new manufacturing council: Andrew Liveris, The Dow Chemical Company Bill Brown, Harris Corporation Michael Dell, Dell Technologies John Ferriola, Nucor Corporation Jeff Fettig, Whirlpool Corporation Mark Fields, Ford Motor Company Ken Frazier, Merck & Co., Inc. Alex Gorsky, Johnson & Johnson Greg Hayes, United Technologies Corp. Marillyn Hewson, Lockheed Martin Corporation Jeff Immelt, General Electric Jim Kamsickas, Dana Inc. Klaus Kleinfleld, Arconic Brian Krzanich, Intel Corporation Rich Kyle, The Timken Company Thea Lee, AFL-CIO Mario Longhi, U.S. Steel Denise Morrison, Campbell Soup Company Dennis Muilenburg, Boeing Elon Musk, Tesla Doug Oberhelman, Caterpillar Scott Paul, Alliance for American Manufacturing Kevin Plank, Under Armour Michael Polk, Newell Brands Mark Sutton, International Paper Inge Thulin, 3M Richard Trumka, AFL-CIO Wendel Weeks, Corning
WASHINGTON, DC – Today, President Barack Obama announced his intent to appoint the following individuals to key Administration posts: Rhoda Mae Kerr – Member, National Infrastructure Advisory Council Carl Newman – Member, National Infrastructure Advisory Council Ellen Ochoa – Member, National Science Board, National Science Foundation Walter Ray Allen Jr. – Member, United States Holocaust Memorial Council Deborah A. Oppenheimer – Member, United States Holocaust Memorial Council Scott Straus – Member, United States Holocaust Memorial Council Jeremy M. Weinstein – Member, United States Holocaust Memorial Council President Obama also announced his intent to designate the following individuals to key Administration posts: Bridget Altenburg – Member, Board of Visitors to the United States Military Academy Brenda S. “Sue” Fulton – Member, Board of Visitors to the United States Military Academy Soudarak “Sue” Hoppin – Member, Board of Visitors to the United States Air Force Academy President Obama said, “I am honored that these talented individuals have decided to serve our country. They bring their years of experience and expertise to their roles, and I know they will serve the American people well.” President Obama announced his intent to appoint the following individuals to key Administration posts: Rhoda Mae Kerr, Appointee for Member, National Infrastructure Advisory Council Rhoda Mae Kerr is Fire Chief of the Austin, Texas Fire Department, a position she has held since 2009. Previously, Chief Kerr served as Fire Chief of the Little Rock, Arkansas Fire Department from 2004 to 2009. From 1983 to 2003, she served at Fort Lauderdale Fire-Rescue as a firefighter and in leadership roles including Deputy Fire Chief and Division Chief. Prior to entering the fire service, Chief Kerr was a coach and physical education teacher at the high school level from 1970 to 1983. Chief Kerr served as President of the International Association of Fire Chiefs and President of the Metropolitan Fire Chiefs Association from 2015 to 2016. Chief Kerr received an A.S. from Broward Community College, a B.A. from William Paterson University, and an M.P.A. from Florida International University. Carl Newman, Appointee for Member, National Infrastructure Advisory Council Carl Newman is CEO of the Jackson Municipal Airport Authority in Mississippi, a position he has held since 2015. Mr. Newman was General Manager of George Bush Intercontinental Airport in Houston, Texas from 2012 to 2015. Prior to that, he worked at Sky Harbor Airport in Phoenix, Arizona from 1980 to 2012, including as its Assistant Aviation Director, Deputy Aviation Director, and Aviation Maintenance Superintendent. He is currently the Chair of the American Association of Airport Executives. Mr. Newman received a B.S. from the University of Arizona and an M.S.A. from Embry Riddle Aeronautical University. Dr. Ellen Ochoa, Appointee for Member, National Science Board, National Science Foundation Dr. Ellen Ochoa serves as the Director of the National Aeronautics and Space Administration (NASA) Lyndon B. Johnson Space Center, a position she has held since 2013. Previously, Dr. Ochoa served as Deputy Director of the Johnson Space Center from 2007 to 2012. Prior to that, she was the Deputy Director and Director of Flight Crew Operations for the Johnson Space Center from 2002 to 2007. From 1990 to 2007, Dr. Ochoa was an Astronaut at the Johnson Space Center and was the first Latina to travel to space. She also served as a Branch Chief and Group Lead at the NASA Ames Research Center from 1988 to 1990. Dr. Ochoa began her career as a member of the technical staff for Sandia National Laboratories from 1985 to 1988. She served as a member on the Stanford University Board of Trustees from 1999 to 2009. Dr. Ochoa holds a B.S. from San Diego State University, and an M.S. and Ph.D. from Stanford University. Walter Ray Allen Jr., Appointee for Member, United States Holocaust Memorial Council Walter Ray Allen Jr. is a retired professional basketball player. Mr. Allen played in the National Basketball Association (NBA) for 18 seasons with four teams from 1996 to 2014. He most recently played with the Miami Heat from 2012 to 2014. Mr. Allen played for the Boston Celtics from 2007 to 2012, the Seattle SuperSonics from 2003 to 2007, and the Milwaukee Bucks from 1996 to 2003. He is a 10-time NBA All-Star, won two NBA Championships in 2013 and 2008, and received an Olympic gold medal as a member of the 2000 United States Men's Basketball Team. Mr. Allen was named USA Basketball Male Athlete of the Year in 1995. Mr. Allen founded the Ray of Hope Foundation in 1997. Deborah A. Oppenheimer, Appointee for Member, United States Holocaust Memorial Council Deborah A. Oppenheimer is an independent film producer. Ms. Oppenheimer is a Production Consultant for the BBC series, Downton Abbey, a position she has held since 2010. She was Executive Vice President at Carnival Film & Television from 2012 to 2014, Executive Vice President of International Television Production at NBCUniversal International Television from 2010 to 2012, President of Mohawk Productions at Warner Bros. from 1995 to 2009, and a Producer, Development Executive, and Production Executive at Lorimar from 1984 to 1993. Ms. Oppenheimer conceived and produced the feature documentary, "Into the Arms of Strangers: Stories of the Kindertransport,” for which she received an Academy Award in 2001. She is a member of the Advisory Committee of the Television and Film Arts Strategic Council at the State University College of New York at Buffalo. Ms. Oppenheimer was first appointed to the United States Holocaust Memorial Council in 2012. Ms. Oppenheimer received a B.A. from the State University College of New York at Buffalo. Dr. Scott Straus, Appointee for Member, United States Holocaust Memorial Council Dr. Scott Straus is Associate Chair and Director of Graduate Studies of Political Science and Professor at the University of Wisconsin, Madison, where he has worked since 2004. Dr. Straus previously worked as a freelance journalist based in Africa from 1995 to 1998. He was awarded the Winnick Fellowship at the United States Holocaust Memorial Museum’s Simon-Skjodt Center for the Prevention of Genocide in 2011 and the William Kiekhofer Distinguished Teaching Award in 2009. Dr. Straus received a B.A. from Dartmouth College and an M.A. and Ph.D. from the University of California, Berkeley. Dr. Jeremy M. Weinstein, Appointee for Member, United States Holocaust Memorial Council Dr. Jeremy M. Weinstein is a Professor of Political Science at Stanford University, a position he has held since 2015. Dr. Weinstein is also a Senior Fellow at the Freeman Spogli Institute for International Studies, a role he has held since 2011. He served as Deputy and Chief of Staff to the U.S. Ambassador to the United Nations from 2014 to 2015 and 2013 to 2014, respectively. Dr. Weinstein has held various roles at Stanford University including Associate Professor of Political Science from 2009 to 2015, Director of the Center for African Studies from 2007 to 2008 and 2011 to 2013, and Assistant Professor of Political Science from 2004 to 2009. He was Director for Development and Democracy for the National Security Council from 2009 to 2011. Dr. Weinstein is a Non-Resident Fellow at the Center for Global Development. Dr. Weinstein received a B.A. from Swarthmore College and an M.A. and Ph.D. from Harvard University. President Obama also announced his intent to designate the following individuals to key Administration posts: Bridget Altenburg, Designee for Member, Board of Visitors to the United States Military Academy Bridget Altenburg has served since 2013 as the Chief Operating Officer of the National Able Network, a nonprofit specializing in workforce development training. Ms. Altenburg was the Executive Director of Chicago Cares from 2011 to 2013 and was the Director of Development for the Academy for Urban School Leadership from 2008 to 2011. Previously, she held several management positions at Bally Total Fitness from 2002 to 2006 and served as a Captain in the United States Army. Ms. Altenburg received a B.S. from the United States Military Academy and an M.B.A. from Columbia Business School. Brenda S. “Sue” Fulton, Designee for Member, Board of Visitors to the United States Military Academy Brenda S. “Sue” Fulton is the Director for Disruptive Channels at Pfizer Consumer Health, a position she has held since March 2016. Ms. Fulton has worked at Pfizer since 2012, serving as a Franchise Lead and Director for Consumer Healthcare from 2012 to 2016. Since 2013, she has served as a member of the Board of Directors of SPART*A, an organization of LGBT service members and veterans. Since 2011, she has also served as a member of the Board of Visitors to the United States Military Academy and was elected as Chair of the Board in 2015. Ms. Fulton is a founding member of the Board of Directors for OutServe, an association of LGBT active duty service members, and was the organization’s Communications Director from 2010 to 2012. In 2009, she co-founded Knights Out, an organization of LGBT West Point graduates and allies, and served as the organization’s Executive Director from 2010 to 2012. Earlier in her career, Ms. Fulton held product management roles at Schering-Plough/Merck from 1997 to 2011. In 1980, she was commissioned in the Army Signal Corps and served for five years in Germany, where she commanded a military intelligence company. For her service, Ms. Fulton was awarded the Army Commendation Medal with Oak Leaf Cluster and a Meritorious Service Medal. She was honorably discharged from the Army with the rank of Captain in 1986. Ms. Fulton received a B.S. from the United States Military Academy. Soudarak “Sue” Hoppin, Designee for Member, Board of Visitors to the United States Air Force Academy Soudarak “Sue” Hoppin is President of the National Military Spouse Network, an organization she founded in 2010. Ms. Hoppin has served on the Board of Visitors to the United States Air Force Academy since 2012. From 2007 to 2016, she was a member of the Air Force Charity Ball Committee and served as its Publicity Chair from 2008 to 2016. From 2010 to 2013, Ms. Hoppin served on the Board of Directors of Blue Star Families. She was also the Military Family Liaison to the Fairfax County School Superintendent’s Business and Community Advisory Council from 2009 to 2012. In 2005, she joined the Military Officers Association of America as a Benefits Associate, and rose to become Deputy Director for Spouse Outreach by 2010. Ms. Hoppin received a B.A. from the University of Denver and an M.A. from the University of Oklahoma.
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В первом квартале текущего года специалисты Европейского агентства по лекарственным средствам (EMA) выявили нарушения производственных стандартов на двенадцати фармпредприятиях Европы и Китая.
У тридцатилетнего инвестора с биологическим образованием Вивека Рамасвами есть шанс стать самым молодым миллиардером в мире
This year I celebrated my 10-year work anniversary with Atlas. Hard to believe how fast a decade flies by, and this milestone triggered some reflections on how times have changed in biotech and the early stage venture business. As we all know, the biopharma industry has changed a lot. Wyeth, Schering-Plough, [...]
A lot of talented people grapple with the disruption of having to switch jobs or careers and figuring out how their current profession’s skills can be applied in a fulfilling new way. The good news is that other industries may value your talents just as much, if not more, than your existing one. The challenges are understanding what those talents are and packaging them in a way that their value to others is apparent. I made a career switch seven years ago, when I went from working as a reporter at the Financial Times, where I covered health care in the United States, to consulting — advising CEOs in the pharmaceutical industry on thought leadership and articulating their corporate strategies. Since then, many friends and strangers have sought my advice about career paths outside of newspaper journalism. From these conversations, I learned a broader lesson about reinventing yourself: It is tragically easy to take for granted some of your most important skills and attributes. The trouble comes from an identity trap. People associate their core skills with their old profession and assume that those skills are less valuable elsewhere. In fact, they might actually be worth more on the outside. Consider the legal field. It has long been widely acknowledged that legal skills are broadly applicable to all kinds of careers: business, politics, finance, even sports coaching, fiction writing, and journalism. Presentation and communication skills, analytical thought, diligent preparation, and attention to details are all highly prized. The same is true of other professions. From inside an industry, fundamental skills can seem like a commodity. But to outsiders, they may be crucial to succeeding in 21st century business and life. In the case of journalists, that means the ability to: Communicate clearly. Inside the profession writing is like breathing — involuntary, common, barely noticed. But outside, the skills of storytelling, structure, and clarity of communication in any form or medium, including the digital, are highly valuable. Execute fast. Everywhere I turn I hear leaders stress the need for speed and agility to create a competitive edge. Few people or organizations can match the speed with which a newsroom and its reporters can execute. Every newspaper reporter has probably written an important story in under 30 minutes to make an edition — analyzing and digesting incredible amounts of information, formulating ideas, and making decisions before the clock runs out. Think creatively. At any level of an organization, and particularly at the top levels, the ability to find and piece together disparate bits of information to form a new view of the whole is essential. Journalists do this nearly every hour of every day — driven by the desire to get to the root causes of events and issues. Build networks. Inside the profession, building an extensive network of contacts and sources for stories is like tying your shoelaces. A friend once said to me, “You actually go to lunch with strangers and find something to talk about the whole time?” It had never occurred to me before that others would find this hard to do. Consider how many articles, advice columns, and books have been devoted to networking and its value for decision making, personal success, and better understanding of the external environment. Journalists can build connections and bring new ideas into an organization as a matter of routine. Act with courage. Many journalists put their name on the line every day. David Carr, the late New York Times columnist, once said that the moment a controversial story goes live, you brace yourself in anticipation of the “boom.” Your work is publicly scrutinized every day. What leader wouldn’t see this fortitude as a valuable asset in any line of work? So how does one identify his or her transplantable core skills? Here are some simple, commonsensical steps. Tap other reinventers. Take a step back and think about the skills that are crucial to excelling in your existing industry. Consult with people who have already transitioned from your industry to a different career. Discuss what core skills you might be overlooking and how they could apply outside. The range of potential applications is probably broader than you think. Confer with outsiders. Talk with a wide range of folks outside your industry, especially people who have interacted with you professionally. Ask them for their opinions of your core skills. I talked with several CEOs at health care companies. You should also ask: How you should market them? What are less-obvious functions or organizations looking for such skills? What are the obstacles to landing such work? Create a strategic message. This is often overlooked. The best CEO strategists with whom I have worked distill what a company needs to do to a stunning simplicity. For instance, Fred Hassan’s successful turnaround strategy for drug maker Schering-Plough was: “Grow the topline; grow the R&D pipeline; reduce costs and invest wisely.” Individuals should do the same thing – which is how I came up with: “Communicate clearly, execute fast, think creatively, build networks, and act with courage.” The skills you take for granted just might be gold. When you position them the right way, you might be able to launch a brilliant second career.
The French Competition Authority dishes out some €16M in fines for the allegedly anti-competitive tactics employed by Schering-Plough (MRK -0.6%) and Reckitt Benckiser in marketing the opioid addiction treatment Subutex back in 2005. The move is tied to a complaint filed by Actavis (ACT -0.2%) unit Arrow Generiques which claims Schering-Plough spoke ill of a generic version during sales calls and "granted pharmacists unjustified discounts to prompt them to stock up on Subutex instead," Reuters notes.MRK is "reviewing the decision." Post your comment!
In both C suites and boardrooms, discussions about business performance usually center on topics like market momentum, M&A opportunities, capital management, and productivity enhancements. While these factors are important, in my experience they are best leveraged when employees are engaged, aligned, and motivated to win. In the course of leading six successful turnarounds and transformations at Schering-Plough, Pharmacia, Pharmacia and Upjohn, Wyeth, and two operating units within Novartis, I've learned that culture can be powerfully leveraged to enhance long-term success. Yet many executives don't make culture a priority. It was this disconnect that prompted me to write my recent book, Reinvent: A Leader's Playbook for Serial Success. Every individual on every team in a company can strive, together, to deliver beyond what is deemed possible. For employees to do that, they need to feel a powerful sense of purpose, reinforced by a culture of ownership, accountability, and continuous learning. In 1997, when I first took over as the new CEO of Pharmacia & Upjohn, the company had just undergone a merger that had gone very bad. One reason was a disjointed leadership structure — comprised of three "business centers" in Stockholm, Milan, and Kalamazoo, Michigan, and one new "management center" in Windsor, near London — that had been negotiated as part of the 1995 merger. Internal tribalism was hurting the company. To align and motivate employees to work together, we eliminated all four centers and created one new streamlined operation in New Jersey. We also shrank the corporate management team by half. This also helped us get rid of a few "culture resisters," senior people who opposed constructive change. Pharmacia & Upjohn made a startling turnaround and then merged with Monsanto in 2000 to triple its size to a $52 billion market cap. These are some of the steps that helped me reinvent through culture: Set clear expectations Show the path of the journey, set an ambitious strategy, and get a mandate for change from the people, so they become ready to make the necessary sacrifices. Role model positive attitudes and behaviors Leaders, starting with the CEO, must consistently act with the same business authenticity that they want to see in their teams. At all the companies I led, we published five or six behaviors we all expected of each other so that we could share, learn, innovate, and grow as individuals and as members of a team. I remember visiting our Schering-Plough team in Seoul, South Korea, in 2009 and was impressed with how well our local team had built ownership and resonance with this list of behaviors. They told me they wanted to do this because they sensed authenticity within the top ranks. Build trust Trust in the senior leadership team is an important indicator of organizational health. To build trust, CEOs must actively show employees that they make fair decisions, value people, and value good work. This also means valuing integrity. When I joined Schering-Plough as CEO in 2003, the company was in trouble with authorities over alleged marketing practices. We subsequently cut the commission structure, and I had to face 3,000 employees, most of them unhappy, at the national sales meeting. I knew my methods were controversial, but I wanted these employees to consider themselves medical information providers, not just commission-driven sales representatives. I told them, as their new CEO, to walk away from any sale that would undermine their integrity and encouraged them to choose long-term trust building over short-term financial gain. Many were surprised at the resulting standing ovation. The meeting was a game changer. We went on to deliver 17 consecutive quarters of double-digit sales growth. Execute via a high-performance culture A culture of ownership, accountability, and continuous learning leads to powerful execution. Leaders should keep encouraging employees to take ownership of both the problems and the solutions. In 2004, when Schering-Plough had to go into a clean-up mode after severe compliance challenges in manufacturing and marketing, our compliance team, led by Brent Saunders (now CEO of Bausch+Lomb), put mirrors throughout the global network of sites with a phone number to call if they witnessed any wrongdoing. The mirrors signaled our new culture in which employees looked at themselves in fixing compliance and turning the company around. In today's era of accelerating — and even lurching — change, culture can still lead to unexpectedly strong performance. The good news is that while it requires time, commitment, and a strong CEO leader, a high performance culture can be built into almost any business. And serial success can follow.
Avon ([[ACP]] +6%) investors hoping for some sort of deal for the company may get their wish with the hiring of Fred Hassan as CEO. The P-E executive made his bones as a turnaround expert and, as then-CEO of Schering-Plough, steered the company to its sale to Merck.
Avon (ACP +6%) investors hoping for some sort of deal for the company may get their wish with the hiring of Fred Hassan as CEO. The P-E executive made his bones as a turnaround expert and, as then-CEO of Schering-Plough, steered the company to its sale to Merck. Post your comment!