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Case Analysis - "Merck-Medco"
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Maureen Hergert MGT 362 - SPRING 2004 Professor Steven Francis Case Analysis - "Merck-Medco" March 7, 2004 Introduction. Merck & Company (Merck) was a pharmaceutical researcher and manufacturer while Medco Cost Containment Services, Inc. (Medco) was a pharmacy benefit manager (PBM). On November 18, 1993, Merck purchased Medco for $6.6 billion. Immediately after the merger, Medco operated as a subsidiary of Merck. In 1994, Merck-Medco was formed. 2 Grant states that corporate strategy involves decisions that define the scope of the firm. In addition, he states the importance of vertical integration as it has caused companies to redesign their value chains within their organizational boundaries. 1 The acquisition of Medco by Merck is an example of Merck expanding its organizational boundaries while at the same time adding value. Merck added value to its operations by purchasing Medco. Pharmaceutical companies operated in a relatively stable environment that was characterized by solid profits and minimal pressure...
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