Collaborations
result in development of Corning Valor(TM) Glass;
drive significant U.S. investment and job
creation
The White House
Office of American Innovation facilitates cross-industry technology
collaboration and U.S. investment
CORNING, N.Y.; JULY 20, 2017 - Merck (NYSE:
MRK), Pfizer (NYSE: PFE) and Corning Incorporated (NYSE: GLW) today
announced collaborations that have enabled the modernization of
pharmaceutical packaging with the introduction of Corning
Valor(TM) Glass. This revolutionary pharmaceutical glass packaging
solution enhances the storage and delivery of today's drug
formulations and provides more reliable access to medicines
essential to public health.
Deep pharmaceutical formulation and manufacturing
process insights from Merck and Pfizer, in combination with
Corning's glass science and precision forming capabilities helped
deliver an exceptional glass packaging solution for injectable
drugs in vials and cartridges. The companies' continued
collaborations will focus on additional evaluations and the
deployment of this new innovation.
Corning Valor Glass packaging offers superior
chemical durability, strength and damage resistance. These
qualities enable increased throughput and more reliable access to
state-of-the-art medicines for patients, while maintaining a high
level of quality assurance for pharmaceutical companies.
The White House Office of American Innovation has
encouraged this initiative as a model of cross-industry technology
collaboration and economic investment. President Donald J. Trump
said, "My administration is committed to streamlining the
regulatory process so that it's easier for companies to invest and
innovate here in America. Today, I'm pleased to recognize Merck,
Pfizer, and Corning for collaborating to modernize pharmaceutical
glass packaging with Valor Glass and bring important manufacturing
jobs to the United States."
As a result of Merck and Pfizer's commitment to
improving glass quality and promising results from their initial
testing, Corning is making an initial investment of $500 million
and creating 1,000 new U.S. jobs as the first part of a planned
investment of $4 billion and 4,000 new high-tech jobs.
Kenneth C. Frazier, Merck's chairman and chief
executive officer, said, "Merck is proud to have participated from
its inception in the development of Valor Glass with Corning.
Biologics today are on the leading edge of scientific innovation,
and Valor Glass represents a similar advancement in materials
science: glass that is purpose-built for medicines and
vaccines. Merck plans to convert several injectable products to
this exceptional new glass packaging solution, pending appropriate
regulatory approvals."
"We joined forces with Corning to advance this
revolutionary new glass for medicines that are critical to
patients. Our initial trial results with Valor Glass show promise,
and we are working with Corning to assess the full potential of
this glass solution on products at several of our manufacturing
sites," Ian C. Read, Pfizer's chairman and chief executive officer,
said.
Wendell P. Weeks, Corning Incorporated's chairman,
chief executive officer, and president said, "Making this
next-generation product requires a new, advanced manufacturing
platform, and we plan to build that platform right here in the
United States. All of this is made possible by our great customers
like Merck and Pfizer and the strong support of the Administration,
the Office of American Innovation, and the FDA's Emerging
Technology Team. We believe this is great news for patients, for
the industry, and for the economy."
About Merck
For more than a century, Merck, a leading global
biopharmaceutical company known as MSD outside of the United States
and Canada, has been inventing for life, bringing forward medicines
and vaccines for many of the world's most challenging diseases.
Through our prescription medicines, vaccines, biologic therapies
and animal health products, we work with customers and operate in
more than 140 countries to deliver innovative health solutions. We
also demonstrate our commitment to increasing access to health care
through far-reaching policies, programs and partnerships. Today,
Merck continues to be at the forefront of research to advance the
prevention and treatment of diseases that threaten people and
communities around the world - including cancer, cardio-metabolic
diseases, emerging animal diseases, Alzheimer's disease and
infectious diseases including HIV and Ebola. For more information,
visit www.merck.com and connect with us on Twitter, Facebook,
Instagram, YouTube and LinkedIn.
Working together for a healthier
world®
At Pfizer, we apply science and our global resources to bring
therapies to people that extend and significantly improve their
lives. We strive to set the standard for quality, safety and value
in the discovery, development and manufacture of health care
products. Our global portfolio includes medicines and vaccines as
well as many of the world's best-known consumer health care
products. Every day, Pfizer colleagues work across developed and
emerging markets to advance wellness, prevention, treatments and
cures that challenge the most feared diseases of our time.
Consistent with our responsibility as one of the world's premier
innovative biopharmaceutical companies, we collaborate with health
care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world.
For more than 150 years, we have worked to make a difference for
all who rely on us. We routinely post information that may be
important to investors on our website at www.pfizer.com. In
addition, to learn more, please visit us on www.pfizer.com and
follow us on Twitter at @Pfizer and @Pfizer_News, LinkedIn, YouTube
and like us on Facebook at Facebook.com/Pfizer.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science, with a 166-year track record of life-changing
inventions. Corning applies its unparalleled expertise in glass
science, ceramics science, and optical physics along with its deep
manufacturing and engineering capabilities to develop
category-defining products that transform industries and enhance
people's lives. Corning succeeds through sustained investment in
RD&E, a unique combination of material and process innovation,
and deep, trust-based relationships with customers who are global
leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows
the company to evolve to meet changing market needs, while also
helping our customers capture new opportunities in dynamic
industries. Today, Corning's markets include optical
communications, mobile consumer electronics, display technology,
automotive, and life sciences vessels. Corning's industry-leading
products include damage-resistant cover glass for mobile devices;
precision glass for advanced displays; optical fiber, wireless
technologies, and connectivity solutions for state-of-the-art
communications networks; trusted products to accelerate drug
discovery and delivery; and clean-air technologies for cars and
trucks.
Forward-Looking Statement of
Merck & Co., Inc., Kenilworth, N.J., USA
This news release of Merck & Co., Inc., Kenilworth, N.J., USA
(the "company") includes "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are
based upon the current beliefs and expectations of the company's
management and are subject to significant risks and uncertainties.
There can be no guarantees with respect to pipeline products that
the products will receive the necessary regulatory approvals or
that they will prove to be commercially successful. If underlying
assumptions prove inaccurate or risks or uncertainties materialize,
actual results may differ materially from those set forth in the
forward-looking statements.
Risks and uncertainties include but are not
limited to, general industry conditions and competition; general
economic factors, including interest rate and currency exchange
rate fluctuations; the impact of pharmaceutical industry regulation
and health care legislation in the United States and
internationally; global trends toward health care cost containment;
technological advances, new products and patents attained by
competitors; challenges inherent in new product development,
including obtaining regulatory approval; the company's ability to
accurately predict future market conditions; manufacturing
difficulties or delays; financial instability of international
economies and sovereign risk; dependence on the effectiveness of
the company's patents and other protections for innovative
products; and the exposure to litigation, including patent
litigation, and/or regulatory actions.
The company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events or otherwise. Additional factors that
could cause results to differ materially from those described in
the forward-looking statements can be found in the company's 2016
Annual Report on Form 10-K and the company's other filings with the
Securities and Exchange Commission (SEC) available at the SEC's
Internet site (www.sec.gov).
PFIZER DISCLOSURE NOTICE: The
information contained in this release is as of July 20, 2017.
Pfizer assumes no obligation to update forward-looking statements
contained in this release as the result of new information or
future events or developments.
This release contains forward-looking information
about collaborations with respect to pharmaceutical packaging,
including their potential benefits, that involves substantial risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
Risks and uncertainties include, among other things, the
uncertainties inherent in research and development; uncertainties
regarding the commercial success of and the ability to realize the
anticipated benefits of the collaborations; whether and when
regulatory approvals may be received for any new packaging
solutions; other business effects, including the effects of
industry, market, economic, political or regulatory conditions; and
competitive developments.
A further description of risks and uncertainties
can be found in Pfizer's Annual Report on Form 10-K for the fiscal
year ended December 31, 2016, including in the sections thereof
captioned "Risk Factors" and "Forward-Looking Information and
Factors That May Affect Future Results", as well as in its
subsequent reports on Form 10-Q and Form 8-K, all of which are
filed with the U.S. Securities and Exchange Commission and
available at www.sec.gov and www.pfizer.com.
Corning Incorporated -
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning's financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
Merck Media
Contact:
Pamela Eisele
(267) 305-3558
pamela_eisele@merck.com
Pfizer Media
Contact:
Andrew Topen
(212) 733-1338
Andrew.Topen@pfizer.com
Corning Media
Contact:
M. Elizabeth
Dann
(607)
974-4989
dannme@corning.com
Corning Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
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This
announcement is distributed by Nasdaq Corporate Solutions on behalf
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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