During a CNBC interview, Merck CEO Kenneth Frazier noted that rather than redomicile, the drugmaker seeks to work with the government to modify high corporate tax code relative to other countries in order to level the playing field so that American companies "are no longer at a competitive disadvantage with European and Japanese companies."
According to the CEO, Merck is "very proud" to be a U.S.-based company.
Frazier went on to emphasize that intrinsic value creation in the pharmaceutical business "comes down to R&D."
Last month, Merck sold its consumer care business to Bayer and its biologics operations to KBI Biopharma.
Watch the CNBC interview here