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6 Oct Merck President and CEO Kenneth C. Frazier and Chairman Richard T. Clark. Effective December 1, , Clark retires from Merck after
Description:Clark joined the company in , working his way up from the job of quality control inspector. Clark said the company is "fully committed" to maintaining long-term shareholder value and would continue to focus on targeted acquisitions to fill its pipeline. Clark will probably spend much of his time conducting a " degree review" of Merck's operations, since his expertise lies primarily in one area, which is manufacturing, said Boris. Clark's promotion to CEO was announced as Senate hearings were held regarding Vioxx, the blockbuster arthritis painkiller that Merck withdrew last Sept. The company reported a 15 percent drop in profit for the first quarter as sales continued to be hurt by the absence of Vioxx. Zocor, a cholesterol-lowering medicine, is set to expire in June
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