Merck's Life Science Department: Objectives, Methods, and Analysis

This report provides an overview of Merck's Life Science Department, detailing its objectives and research methodologies. The primary goal is to reduce the cost of treating chronic cardiovascular conditions through research and development. The report explores the use of market research to assess current patient costs and identify potential substitute medicines. The report also suggests increasing funding for research and development, along with providing links to relevant articles. This report is intended to provide a comprehensive understanding of Merck's approach to achieving its goals in the field of life sciences and improving healthcare outcomes. The report also focuses on how the company can develop new medicines for the cardiovascular patients.

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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