Could Be 15 Months Before We Have Vaccine: Merck KGaA CFO

The transcript covers a discussion on market performance amid COVID-19, highlighting a mixed second quarter but a positive outlook for recovery. It delves into the timeline for COVID-19 vaccine development, estimating a 9-15 month period before availability. The conversation shifts to economic opportunities from vaccines, noting that therapies are more lucrative. The company emphasizes its commitment to diversity, with gender diversity as a key performance indicator. Finally, the discussion touches on the role of management in share price commentary, emphasizing investor responsibility.

What was the main reason for the company's slight margin upgrade in the second quarter?

• New product launches

• A significant recovery in June

• Increased sales in April and May

• Higher than expected COVID-19 impact

Which institutions is the company collaborating with for vaccine development?

• Yale University and Johns Hopkins University

• MIT and Cambridge University

• Harvard University and Stanford University

• Oxford University and Baylor College

How long is it expected to take before a COVID-19 vaccine might be available?

• 9 to 12 months

• 6 to 9 months

• 3 to 6 months

• 12 to 18 months

Why are vaccines generally considered less attractive from a value perspective compared to therapies?

• Vaccines have a longer development time

• Vaccines have a higher production cost

• Vaccines require more marketing efforts

• Vaccines are sold in smaller quantities

Which type of vaccine is considered most attractive from a value perspective for the company?

• Messenger RNA vaccines

• Viral vector or recombinant DNA vaccines

• Inactivated vaccines

• Live attenuated vaccines

What is a key performance indicator related to diversity at the company?

• Gender diversity in senior leadership

• Employee satisfaction scores

• Annual revenue growth

• Number of new hires

Why does management refrain from commenting on share price development?

• It is against company policy

• It is the responsibility of investors to judge

• They lack the necessary data

• They focus solely on operational performance