Merck CFO Shades/Changes Story — On Why 2011 Guidance Was Withdrawn Last Month


Perhaps Mr. Kellog felt he was simply refining the focus of the previously-articulated rationale for withdrawing 2011 guidance, in the wake of the Vorapaxar disappointment, and the looming J&J arbitration outcome, but the below certainly sounds different than the sound-bites offered a month and a half ago — that earlier rationale included industry pressures from European austerity measures and the U.S. health overhaul law.

From Reuters coverage of the Citi event in Manhattan this morning:

. . . .On Tuesday, CFO Peter Kellogg said Merck did not want to be forced into making business decisions based on a single year.

“The most important element is we wanted the freedom and flexibility to invest,” Kellogg told the Citi global healthcare investor conference. . . .

Other than this, above (which I knew the wires would cover), I heard nothing particularly new, or material of note — so I did not put up a live-blog entry.

Anyone out there with different insights?

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