Merck to Move Global Headquarters Within New Jersey
Company cites ongoing facilities consolidation and reiterates commitment to reduce operating expenses
Tuesday, October 9, 2012
WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced plans to move the company's global headquarters within the state from Whitehouse Station, N.J. to its existing property in Summit, N.J., which currently houses research, manufacturing, animal health and consumer care operations and is home to 1,800 people. The company will close its current headquarters building in Whitehouse Station, N.J. The transition process is expected to begin in 2014 and be completed in mid-2015.
The headquarters relocation is part of the company's ongoing program to consolidate its global real estate footprint and lower its annual operating expenses, following its merger with Schering Plough in 2009. The Summit location was selected as the site for Merck's new headquarters because it is a strategic, multi-use site with excess work-space capacity and is adjacent to major transportation hubs and desirable urban centers.
"The relocation of our headquarters will help us achieve our future vision, reduce the size of our operating footprint, and increase agility as we adapt to our changing business environment," said Kenneth C. Frazier, chairman and chief executive officer of Merck.
About 2,000 employees and contractors currently situated at the Whitehouse Station global headquarters building either will move to the new facilities in Summit or to other nearby facilities such as those in Branchburg, N.J. and Cokesbury, N.J.
Merck has been headquartered in Whitehouse Station since 1992. Prior to that, the company was headquartered in Rahway, N.J.
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.
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. Such statements may include, but are not limited to, statements about the benefits of the merger between Merck and Schering-Plough, including future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Merck's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the possibility that all of the expected synergies from the merger of Merck and Schering-Plough will not be realized, or will not be realized within the expected time period; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; Merck's ability to accurately predict future market conditions; dependence on the effectiveness of Merck's patents and other protections for innovative products; and the exposure to litigation and/or regulatory actions.
Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Merck's 2011 Annual Report on Form 10-K and the company's other filings with the Securities and Exchange Commission (SEC) available at the SEC's Internet site (www.sec.gov).
Ron Rogers, 908-423-6449
Steve Cragle, 908-423-3461
Carol Ferguson, 908-423-4465
Alex Kelly, 908-423-5185