Wednesday, 20 January 2010 10:13

Merck & Co

Written by  ODISHAMEDICAL.COM
Rate this item
(0 votes)

 

Merck & Co., Inc. (NYSE: MRK), also known as Merck Sharp & Dohme or MSD outside the USA and Canada, is one of the largest pharmaceutical companies in the world.

The headquarters of the company is located in Whitehouse Station, New Jersey, an unincorporated area in Readington Township. It was established in 1891 as the United States subsidiary of the German company now known as Merck KGaA. In common with many other German assets in the United States, Merck & Co. was confiscated in 1917 during World War I and set up as an independent company. It is currently one of the seven largest pharmaceutical companies in the world both by market capitalization and revenue.

 

Merck & Co. or MSD describes itself as a "a global research-driven pharmaceutical company. Merck discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures." The Merck Company Foundation has distributed over $480 million to educational and non-profit organizations since it was founded in 1957.

Merck publishes the The Merck Manuals, a series of medical reference books that includes the Merck Manual of Diagnosis and Therapy, the world's best-selling medical textbook, and the Merck Index, a collection of information about chemical compounds.

History

Merck & Co. traces its origins to Friedrich Jacob Merck who purchased a drug store in Darmstadt, Germany in 1668; and Emanuel Merck who took over the store several generations later, in 1816. Emanuel and his successors gradually built up a chemical-pharmaceutical factory that produced — in addition to raw materials for pharmaceutical preparations — a multitude of other chemicals.

In 1891, George Merck established his roots in the United States and set up Merck & Co. in NY as the US arm of the family partnership, E. Merck (named for Emanuel Merck), which is now Merck KGaA. Merck & Co. was confiscated in 1917 during World War I and set up as an independent company in the United States. Between the wars and during World War II, the company was led by George W. Merck, who oversaw America's germ-warfare research at Fort Detrick. Today, the US company has about 51,000(S&P NetAdvantage) employees in 120 countries and 31 factories worldwide. It is one of the top 7 pharmaceutical companies worldwide, much larger than its German ancestor, which currently employs around 32,800 people in 62 countries.

In 2005, CEO Raymond Gilmartin retired at the age of 64 following Merck's voluntary worldwide withdrawal of Vioxx. Former president of manufacturing Richard Clark was named CEO and President of the company.

In November 2009, Merck merged with Schering-Plough in a US$41 billion deal. As a result of the merger, the company will use the trade name Merck in the United States and Canada and elsewhere use the trade name MSD.

Corporate governance

As of November 3, 2009 the members of the board of directors of Merck & Co. are: Richard T. Clark, Leslie A. Brun, Thomas R. Cech, Ph.D., Thomas H. Glocer, Steven F. Goldstone, William B. Harrison, Jr., Harry R. Jacobson, M.D., William N. Kelley, M.D., C. Robert Kidder, Rochelle B. Lazarus, Carlos E. Represas, Patricia F. Russo, Thomas E. Shenk, Ph.D., Anne M. Tatlock, Samuel O. Thier, M.D., Craig B. Thompson, M.D., Wendell P. Weeks, and Peter C. Wendell.

 

Last modified on Wednesday, 20 January 2010 11:02
ODISHAMEDICAL.COM

ODISHAMEDICAL.COM

What is Telemedicine?

Here is the definition I have used over the past ten years or so to describe Telemedicine:"Telemedicine is the ability to provide interactive healthcare utilizing modern technology and telecommunications."

Basically, Telemedicine allows patients to visit with physicians live over video for immediate care or capture video/still images and patient data are stored and sent to physicians for diagnosis and follow-up treatment at a later time. Whether you live in the center of a Metro City or deep in the Remote Village, Telemedicine is an invaluable tool in Healthcare.

Here's an example of how Telemedicine works everyday. Say you have a horrible sore throat and visit your healthcare provider (could be a general practice physician, nurse practitioner, or unlicensed health worker in a village depending where you live), who does an examination and is concerned with what he sees. Your provider recommends a referral to an ENT specialist for a follow up diagnosis and treatment plan. Well, instead of traveling to the nearest specialist, which depending where you live could be anywhere from a 45-minute drive or an 18-hour ride, your provider connects you directly to the ENT specialist via Telemedicine.

Here are some of the major benefits of a Telemedicine Consultation:

The specialist actually hears your medical history and current condition directly from you and your provider instead of the specialist receiving a dictated note in the mail.

With the use of ENT medical peripherals such as a nasopharyngoscope, your provider can pass this medical peripheral into your nasal passage which will allow your provider and the ENT specialist simultaneous crystal clear video of your throat and vocal cords. The specialist may ask you to cough, pronounce letters, etc. in order to get the best outcome for the diagnosis.

The specialist can diagnose and recommend treatment immediately.

Your provider has the opportunity throughout the examination to ask questions and learn from each and every consultation. The continual education of your provider via medical consultations is an immeasurable benefit to all his patients.

Telemedicine Usage Models

Real-Time

This is the most common use in Telemedicine. Like the example above, live video allows the provider, patient and specialist to all communicate together to achieve the best outcome for the patient.

In or outpatient specialty consultation

Physician supervision of non-MD clinician

Generally require higher bandwidths (minimum 256kb)

Store and Forward (asynchronous)

Used when both health providers are not available or not required at the same time. The provider's voice or text dictation on the patient's history, current affliction including pictures and/or video, radiology images, etc., are attached for diagnosis. This record is either emailed or placed on a server for the specialist's access. The specialist then follows up with his diagnosis and treatment plan.

Teleradiology

Can be done over low or high bandwidth

Images scanned, direct capture, or digital camera

Other specialties consist of dermatology, ophthalmology, pathology

Home Health Telemedicine

When a patient is in the hospital and he is placed under general observation after a surgery or other medical procedure, the hospital is usually losing a valuable bed and the patient would rather not be there as well. Home health allows the remote observation and care of a patient. Home health equipment consists of vital signs capture, video conferencing capabilities, and patient stats can be reviewed and alarms can be set from the hospital nurse's station, depending on the specific home health device.

Usually low bandwidth analog Plain Old Telephone System (POTS). Some newer systems do support higher bandwidth capabilities.

Disease management, post-hospital care, assisted living, etc.

Summary of Benefits of Telemedicine:

To Rural Physicians and clinics (spoke sites) Receive education from the specialist/provider

Better health outcome for their patients

Enhanced community confidence in local healthcare

Attend continuing medical education courses from their clinic

To Patients

Loved ones remain in their community with family support

Cost savings from not having to travel extensively

Immediate urgent care

Confidentiality of specialty examination or visit (Because the patient visits the general practice doctor, he can be seen for any specialty care without anyone else knowing)

Patient education courses (nutrition, oncology, etc.)

Properly stabilize patient prior to transport

Early Diagnosis prior to escalated medical episode

Rural Patient's Community

Dollars follow the patient

Patients that routinely travel to visit doctors in large urban areas tend to purchase their goods and services from those cities, Telemedicine keeps those dollars local.

To Telemedicine Providers (hub sites)

Expand patient outreach

Major surgical procedures resulting from the initial telemedicine consultation

Reduction in ER visits

Promotion of Hospital

Charge tuition for clinician education courses (CME, CNE, etc.)

How can we give any hospital or clinic immediate access to a vast amount of medical experts, healthcare education/information, and support from other physicians.

How can we take all these resources and share them immediately and effectively with any hospital or clinic in the world?

We can use Telemedicine!

 

Website: www.odishamedical.com E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

1 Comment

  • Comment Link Mrs.E.L.Padmini Tuesday, 11 May 2010 08:59 posted by Mrs.E.L.Padmini

    I am a retired MNS officer of having 24yrs of service in defence and retired in 31st March 2004 Worked in navy and army hospitals of India- Last appointment as Matron in charge of MH Thiruvanathapuram.. oNow Searching for a suitable appointment

Leave a comment

Make sure you enter the (*) required information where indicated.
Basic HTML code is allowed.