EVOLUTION AT MERCK - INVENTING FOR LIFE

TODAY'S INDUSTRY LANDSCAPE CHALLENGES OPPORTUNITIES Rising cost of healthcare and R&D Pricing policy uncertainty and shift to outcome-based reimbursement in the U.S. Increased molecular target complexity Intensified generic and biosimilar competition High unmet medical needs of patients globally Growing and aging global population New modalities and technologies accelerating innovation More efficient and effective clinical trial design through advanced data analytics MERCK Ken Frazier INVENTING FOR LIFE 5

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