Merck & Co., Inc.'s Frazier Says He Won't Follow Pfizer Inc., Abbott Laboratories in Splitting Company

Merck & Co. (MRK) Chief Executive Officer Ken Frazier said he doesn’t plan on breaking up the company by splitting off businesses the way Pfizer Inc. (PFE) and Abbott Laboratories are doing. “My philosophy is fix what is broke, don’t do the fad of the day,” Frazier said at the Sanford C. Bernstein conference in New York today. “I remember a few years ago when people said it would be the diversified companies that were going to get the premium in the market.”

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