This process started with the large-scale acquisitions of Serono SA in 2007 and the Millipore Corporation in 2010. Afterwards, we embarked on the “Fit for 2018” transformation and growth program with a new executive management team. In the first phase, we created the foundation for profitable growth by introducing a new leadership organization and a comprehensive efficiency program that covers all businesses, functions and regions. The second phase is aimed at successively implementing the growth options identified. Merck will continue to develop its portfolio further by building on existing core competencies. The objectives here are:
- Closeness to existing businesses
- Innovative strength
- Customer proximity (to offer tailored solutions)
- Focus on specialty businesses
Moreover, Merck is aiming to expand its business model systematically and continuously to include new technologies. This also includes the planned acquisition of AZ Electronic Materials, which is aimed at broadening the product base and new technology offerings for customers, through which Merck can win new customers for existing business. This transformation into a specialist for innovative high-tech products operating in pharmaceuticals and chemicals is already reflected in our financials.
In Pharmaceuticals, the Merck Serono division already generates more than 60% of its sales with medicines of biotechnological origin. In 2006, we only had one such product: Erbitux®, which accounted for less than 10% of sales. The Chemicals business has increasingly become a high-tech materials business that offers a wide range of value-adding products. Today, high-tech materials and life science tools make up around 80% of sales in this sector. In 2006, the share was around 30%.
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