Mr. Frazier has had a rocky first year with the company. Last Jan. 2011, after he took the helm, Merck unexpectedly ended a late-stage study of a blood thinner due to bleeding risks. Merck’s return to shareholders dropped to the lowest in the industry after problems delayed other drugs.
Mr. Frazier said the company will seek approval for Bridion, a drug for reversing anesthesia that is approved in many other countries but was rejected in the U.S. in 2008.
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