The company’s stock price movement is the basic interest of stakeholders hence making it necessary to know what moves its stock price. Merck faced the patent cliff with its blockbuster drug Singulair in 2012. The company is still reporting year-over-year decline in the product’s revenues since the patent expiry. The company is looking at the expiry of multiple patents in 2013 and expects the sales of the drugs to face decline. As important as emerging market growth is for the company, it faced a decline in its most recent quarter and also faced losses because of foreign exchange fluctuatrions. Another important driver is R&D productivity which shows the growth in operating income by investments in R&D. Merck’s stock price is dependent on share repurchase programs and also its dividend payments which have been growing significantly in recent years.