Accelerating Research and Development Services

The assignment details the objectives of the life science department of Merck to accelerate research and development services to reduce the cost of treatment for chronic cardiovascular conditions. It also discusses research methods such as market research and increasing funding for research and development, as well as references to relevant articles and a report by Merck KGaA.

CONSULTANCY

TABLE OF CONTENTS
Objectives for Life Science Department of Merck..........................................................................1
Research Methods............................................................................................................................1
Links to Suggested Articles.............................................................................................................1
REFERENCES................................................................................................................................2

OBJECTIVES FOR LIFE SCIENCE DEPARTMENT OF MERCK
Merck is German company involved in producing pharmaceutical products. The life
science department of company is playing an important role in conducting the study of different
living organisms such as plants, animals, human beings and micro-organisms. The study can
further be used in researching for new medicines that may not be available in the market. Hence,
the objectives can be formed in the below manner:
 To accelerate research and development services in department in order to reduce cost of
treatment for chronic cardiovascular condition
 To perform evidence based patient services through pre diagnosis and assessing ongoing
treatment
First objective framed for entity will help in ascertaining if better medicines can be made
for cardiovascular patients so that it can reduce the cost for them. The company will be benefited
by attracting a large number of customers towards it for using the new researched medicines.
The second objective will help in increasing the economic outcome for Merck.
RESEARCH METHODS
In order to attain the first objective, market research can be conducted regarding total cost
incurred by the cardiovascular patient currently. Further, finding out the substitute medicines and
ingredients can help in achieving the objectives (Merck KGaA, Darmstadt, Germany, On Course
To Achieve Objectives for 2018, 2017).
The department can focus on current medical conditions faced by patients so that new
medicines for them can be designed. Further, increasing funding of research and development
can help in attaining the objective.
LINKS TO SUGGESTED ARTICLES
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3575070/
https://www.ncbi.nlm.nih.gov/pubmed/28605436
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3552669/
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3068824/
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REFERENCES
Merck KGaA, Darmstadt, Germany, On Course To Achieve Objectives for 2018. 2017. [Online].
Available through <https://www.emdgroup.com/en/news/capital-markets-day-2017-09-
28.html?global_redirect=1>.
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