Merck (NYSE:MRK), known as MSD outside the United States and Canada, today announced plans to move its global headquarters from Whitehouse Station, N.J., to its existing facilities in Kenilworth, N.J. The company had previously announced that it would close its Whitehouse Station building and relocate its global headquarters to Summit, N.J. However, after re-evaluating its real estate needs in the state, Merck determined that it could achieve greater cost savings and operational synergies by closing both its Summit campus and its main Whitehouse Station facility. The transition is expected to begin next year and be completed by 2015.
These updated plans are part of the company’s global initiative announced today, to sharpen its commercial and R&D focus and reduce costs, including the size of its workforce and global real estate footprint.
Merck’s Animal Health and Consumer Care divisions currently located in Summit will be relocated to another facility in New Jersey. In addition, certain manufacturing, laboratory and other functions currently located in Summit will be relocated to other facilities in New Jersey or Pennsylvania.
Merck has been headquartered in Whitehouse Station since 1992. Prior to 1992, the company was headquartered in Rahway, N.J.About Merck Today's Merck is a global healthcare leader working to help the world be well. Merck is known as MSD outside the United States and Canada. Through our prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to healthcare through far-reaching policies, programs and partnerships. For more information, visit www.merck.com and connect with us on Twitter, Facebook and YouTube. Forward-Looking Statement This news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of Merck’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts