ERBITUX: A Miracle Drug Or Just a Lot of Headaches
In February of 2002, Bernhard Scheuble, the CEO of Merck, received news that the U.S. Food and Drug Administration had "refused to file" Erbitux, a new "miracle" cancer treatment drug. The drug was supposed to have represented Merck's entry into the field of oncology.
Erbitux had been an enormous gamble for the first non-family CEO in Merck's 350-year history. It had refocused the company's operations on an entirely new field: oncology. Adding to the risk, Merck had planned to enter the field with a drug pipeline dominated by a single product.
Scheuble now wondered whether he should halt the development of Erbitux or seek approval from the drug authority for the European market.
Collection: IESE (España)
Ref: AD-347-E
Format: PDF
Number of pages: 15
Publication Date: Jan 22, 2016
Language: English
Description
In February of 2002, Bernhard Scheuble, the CEO of Merck, received news that the U.S. Food and Drug Administration had "refused to file" Erbitux, a new "miracle" cancer treatment drug. The drug was supposed to have represented Merck's entry into the field of oncology.
Erbitux had been an enormous gamble for the first non-family CEO in Merck's 350-year history. It had refocused the company's operations on an entirely new field: oncology. Adding to the risk, Merck had planned to enter the field with a drug pipeline dominated by a single product.
Scheuble now wondered whether he should halt the development of Erbitux or seek approval from the drug authority for the European market.
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Year: 2002
Geographic Setting: Alemania
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