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"<p>\n\tMerck &amp; Company has named Kenneth Frazier, a lawyer known for his strategy in defending the pain drug Vioxx, as its new chief executive officer.<br />\n\t<br />\n\tMerck is only the latest in an increasing number of pharmaceutical companies that have chosen someone without laboratory experience as leader, the Wall Street Journal reports.<br />\n\t<br />\n\tThe move comes as issues like defending patents and controlling costs have become of paramount importance, according to the Wall Street Journal.<br />\n\t<br />\n\tFrazier was the mastermind behind Merck&#39;s Vioxx defense strategy, which saw the company choose to fight each case against it separately, instead of as a joint action. Though widely controversial at the time, Frazier&rsquo;s plan is seen as aiding the company in minimizing losses. The plan also drew an aggressive line against lawsuits, which is important for pharmaceutical companies worried about legal liabilities.<br />\n\t<br />\n\tFrazier is a Harvard Law School Graduate and has been at the company since 1992. He served as its general counsel from 1999 to 2007. &nbsp;<br />\n\t<br />\n\tIn April 2010, Frazier was named Merck&#39;s president in a move that signaled his potential rise to the top of the organization.<br />\n\t<br />\n\tFrazier will remain the company&rsquo;s president and serve as a member of the board. He is replacing Richard Clarke, who has been in the position since 2005 and will remain chairman of the board.</p>\n"^^<http://www.w3.org/2001/XMLSchema#string>
<http://vaccinenewsdaily.com/stories/510531497-merck-names-new-ceo>