Merck Announces New $15 Billion Share Repurchase Program


May 1, 2013 5:58 am ET

Company’s expanded program now totals $16.1 billion

Merck (NYSE: MRK), known as MSD outside the United States and Canada,
today announced that its board of directors has authorized additional
purchases of up to $15 billion of Merck’s common stock for its treasury.
The company expects to repurchase approximately $7.5 billion of common
stock over the next 12 months, financed through a combination of debt
issuance and operating cash flows, with the remainder to be repurchased
over time with no time limit. Purchases may be made in open-market
transactions, block transactions on or off an exchange, or in privately
negotiated transactions.

“This share repurchase program, combined with our strong dividend,
reinforces our continued commitment to delivering increased value to
shareholders,” said Kenneth C. Frazier, chairman and chief executive
officer, Merck. “At the same time, we remain committed to maintaining a
strong balance sheet and financial position that enables the company to
invest in research and development and other growth-oriented
opportunities. This action also reflects the board’s confidence in our
long-term growth strategy and the company’s future performance.”

In the first four months of 2013, Merck repurchased approximately 17.8
million shares for a total of $772 million. With today’s
announcement, the company’s total outstanding share repurchase
authorization is now $16.1 billion, which includes $1.1 billion in
authorized repurchases remaining under the program previously announced
on April
27, 2011

About Merck

Today’s Merck is a global healthcare leader working to help the world be
well. Merck is known as MSD outside the United States and Canada.
Through our prescription medicines, vaccines, biologic therapies, and
consumer care and animal health products, we work with customers and
operate in more than 140 countries to deliver innovative health
solutions. We also demonstrate our commitment to increasing access to
healthcare through far-reaching policies, programs and partnerships. For
more information, visit
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Forward-Looking Statement

This news release includes “forward-looking statements” within the
meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. These statements are based
upon the current beliefs and expectations of Merck’s management and are
subject to significant risks and uncertainties. If underlying
assumptions prove inaccurate or risks or uncertainties materialize,
actual results may differ materially from those set forth in the
forward-looking statements.

Risks and uncertainties include but are not limited to, general industry
conditions and competition; general economic factors, including interest
rate and currency exchange rate fluctuations; the impact of
pharmaceutical industry regulation and health care legislation in the
United States and internationally; global trends toward health care cost
containment; technological advances, new products and patents attained
by competitors; challenges inherent in new product development,
including obtaining regulatory approval; Merck’s ability to accurately
predict future market conditions; manufacturing difficulties or delays;
financial instability of international economies and sovereign risk;
dependence on the effectiveness of Merck’s patents and other protections
for innovative products; and the exposure to litigation, including
patent litigation, and/or regulatory actions.

Merck undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Additional factors that could cause results to differ
materially from those described in the forward-looking statements can be
found in Merck’s 2012 Annual Report on Form 10-K and the company’s other
filings with the Securities and Exchange Commission (SEC) available at
the SEC’s Internet site (

Media Contact:
Steven Cragle, 908-423-3461
Investor Contact:
Alex Kelly, 908-423-5185

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