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Merck 2012 Corporate Respon CORPORATE RESPONSIBILITY REPORT 2011 CORPORATE RESPONSIBILITY CORPORATE RESPONSIBILITY At Merck, corporate responsibility is our daily commitment to discovering innovative solutions to the world’s biggest health challenges. It is this simple promise that informs all of our actions as we apply our global resources, our talents and our scientific and operational expertise to some of the most significant health, environmental and economic challenges in the world today. We see corporate responsibility as a major business objective, not solely a philanthropic initiative. Ultimately, it helps us to discover better ways to deliver greater value to both shareholders and society. Through innovative research, groundbreaking partnerships and smarter processes, we are focusing on four priority areas: Access to Health, Environmental Sustainability, Employees, and Ethics & Transparency. With a focus on these priority areas across our entire organization, we are committed to leading the future of healthcare. 2011 MERCK CORPORATE RESPONSIBILITY REPORT 2 CORPORATE RESPONSIBILITY CEO LETTER Merck is leading the way to a healthier future with products of eliminating river blindness, that touch the lives and improve the well-being of people and a leading cause of preventable communities around the world. Our product portfolio is among blindness, and lymphatic filariasis, the broadest in the healthcare industry. As a leader in global more commonly known as healthcare, we are committed to addressing critical social, elephantiasis. Building on this environmental and economic challenges to ensure not only the legacy of tackling urgent global vitality of our business, but also the health of our world. health challenges such as river blindness, HIV/AIDS and hepatitis, That’s why innovation and corporate responsibility are at the core in September we launched “Merck of our business strategy and activities. We develop breakthrough for Mothers,” a long-term effort medicines and vaccines that tackle unmet medical needs, we with global health partners to adopt positions and advocate for changes that will improve help create a world where no access to these products, and we find new ways to do the right woman has to die from preventable complications of pregnancy thing for our constituents. This is particularly important today, and childbirth. This initiative applies our scientific and business because we live in a resource-scarce environment. Every dollar, expertise to making proven solutions more widely available, every dosage and every drop of water count. The healthcare developing new technologies and improving global public system is under constant strain, trying to provide optimum care awareness about maternal mortality. to more people while reducing costs. Our current corporate responsibility progress constitutes steps To meet these challenges while achieving our business goals, we along a journey, accelerated by our unwavering commitment to rely on the integrity, knowledge, skill and collaboration of Merck expand access to healthcare, work toward true environmental colleagues globally. Together, we strive to create an environment sustainability, employ a diverse workforce that values collaboration, of mutual respect and opportunity, even as the company faces and operate with the highest standards of integrity. We have an global workforce reductions. We remain true to our commitment exciting pipeline of new medicines and a growing presence in to act responsibly and with even greater transparency. emerging markets. By staying focused on scientific innovation and responsible business practices, we expect to continue making In addition to making substantial progress in meeting our strides, in partnership with our many stakeholders, while delivering business objectives, we launched several significant initiatives value to our shareholders, customers and patients. We know that in 2011, as well as a new corporate responsibility framework in our ability to advance human health owes much to listening and 2010. For example, as part of our commitment to ensure access working with others who share the same goal. We welcome you to to healthcare worldwide, we established a new Research join us on this path toward a healthier future. & Development headquarters in Beijing, China, focused on innovative drug discovery and development. Building this new Be well, facility in China will enable us to complement our existing R&D capabilities, and facilitate new collaborations with scientists in the region and across emerging markets. We are looking forward to celebrating the twenty-fifth anniversary Kenneth C. Frazier of Merck’s MECTIZAN® (ivermectin) Donation Program, the Chairman and CEO longest-running donation program of its kind, with the goal August 2012 2011 MERCK CORPORATE RESPONSIBILITY REPORT 3 CORPORATE RESPONSIBILITY MESSAGE FROM THE BOARD Dear Stakeholders, The Board will continue to examine our global policies and practices to Merck has a rich heritage of corporate responsibility. We make sure our business operations are dedicated to providing leading innovations and solutions are in line with our corporate for tomorrow, while holding ourselves to a high standard of responsibility framework. We will performance and conduct with all stakeholders. assess the company’s progress toward our corporate responsibility In my position as Lead Director and Chair of the Board’s goals and commitments, making Committee on Governance, Public Policy and Corporate sure that: Responsibility, I am aware of the many challenges we face as a company. I recognize the committee’s responsibility to advise • Our policies and practices the Board and management on policies and practices that pertain reflect our values and to the company’s responsibilities as a global corporate citizen. business goals • We have an effective corporate governance structure In fact, I believe how we govern ourselves as a company is as • We are operating in a way that is open and transparent important as anything else we do. Good corporate governance benefits our customers and patients, as well as our shareholders, Through innovative research, groundbreaking partnerships and is essential to our long-term business success. and smarter processes, we are prepared to lead in the future of healthcare. As we do so, we will remain competitive and committed to the idea that corporate responsibility makes good business sense. Sincerely, William B. Harrison, Jr. Lead Director and Chair, Committee on Governance, Public Policy and Corporate Responsibility August 2012 2011 MERCK CORPORATE RESPONSIBILITY REPORT 4 CORPORATE RESPONSIBILITY OUR APPROACH We aspire to be the best healthcare company in the world Since successfully managing social, ethical and environmental and are dedicated to providing leading innovations and issues involves everyone at Merck, we established a solutions for tomorrow. companywide corporate responsibility framework, and developed and refined a list of key performance indicators to At Merck, our vision is to make a difference in the lives of people measure the company’s performance and progress in our areas globally through our innovative medicines, vaccines, biologic of strategic focus. therapies, consumer health products and animal health products. We have made it our mission to provide distinctive products Integrated into our approach to corporate responsibility is also and services that save and improve lives and satisfy customer a commitment to constructive engagement with stakeholders. needs; to be recognized as a great place to work; and to provide We recognize that issues that matter to key stakeholders can investors with a superior rate of return. very quickly become material issues for our shareholders. So, we seek to balance our responsibilities in ways that support our Our corporate responsibility approach is aligned with the fiduciary duty to generate long-term shareholder value, while company’s mission and values and articulates how we see also considering the needs of other stakeholders. Learn more our responsibilities in the areas of access to health, ethical and about our stakeholder engagement process. transparent business practices, environmentally sustainable operations, scientific advancement, employee wellness and value-creation for our shareholders. In short, corporate responsibility at Merck is a daily commitment and a simple promise that is embedded in our business and informs all of our individual actions. It extends to how we achieve our business goals by discovering and demonstrating: • Smart, sustainable ways to expand global access to effective healthcare • Environmentally sustainable ways to meet the world’s health needs now and in the future • Better ways to strengthen a workplace where our employees—and our business—can thrive • Better ways to build and strengthen trusted relationships • The highest ethical standards and communicating with greater transparency 2011 MERCK CORPORATE RESPONSIBILITY REPORT 5 CORPORATE RESPONSIBILITY MATERIALITY In 2010, after having successfully completed our merger The key issues in this report have been approved by Merck’s with Schering-Plough, Merck took the opportunity to Public Policy and Responsibility Council based on the three reassess our corporate responsibility efforts and focus on parameters used to define and determine materiality for the a more strategic approach that is linked directly to our core purpose of our corporate responsibility reporting: business drivers. Our corporate responsibility materiality assessment
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