TRANSFORMING RESEARCH AND DEVELOPMENT
Nowhere is Merck's transformation more critical than in our scientific research and development. New initiatives, such as our global operating strategy for basic research and our model for clinical development, will enable Merck to accelerate the discovery process, improve our research productivity and increase our probability of success. At the same time, we are seeking out collaborations that complement and extend our own world‑class internal capabilities.
We are especially excited about the opportunity presented by Merck BioVentures, a new business we believe positions us to become a leading provider of high-quality, competitively priced, follow-on biologics. While chemistry has traditionally been at the root of most Merck drugs, biologics can expand Merck's portfolio by providing medicines derived from technologically engineered microorganisms. Merck BioVentures will use the proprietary glyco‑engineering technology we brought into our labs with our 2006 acquisition of GlycoFi.
To expedite our entry into the biologics marketplace, we recently announced an agreement with Insmed Inc. to purchase Insmed's portfolio of follow-on biologic therapeutic candidates and its commercial manufacturing facilities in Boulder, Colorado.
Follow-on biologics represent a significant opportunity for Merck due to the extensive patent expiries of leading biologics through 2017. Merck BioVentures has the potential to improve the probability of success in our pipeline and help us manage our overall development risk. Over time, it should enable us to develop novel biologics as well.
Meanwhile, our current pipeline is robust and addresses key therapeutic areas. In 2009, we plan to file three new drug applications with the U.S. Food and Drug Administration (FDA):
- MK‑7418, for acute heart failure;
- MK‑0974, our new, first-in-class candidate for migraine; and
- MK‑0653C, a combination of ezetimibe, the active ingredient of Zetia, with atorvastatin, the active ingredient in Lipitor®, which we are developing with our partner Schering-Plough as another treatment option for patients with high cholesterol.
Together with the other candidates in our late-stage pipeline, we believe these products will continue to help drive Merck's future growth by providing innovative, differentiated products that address unmet medical needs.