Merck Updates Plans for Headquarters Move in New Jersey
Company to Close Summit Campus; Move Global HQ to Kenilworth
Tuesday, October 1, 2013
WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--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.
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. 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.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Merck's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of Merck's patents and other protections for innovative products; and the exposure to litigation, including patent 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 2012 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).
Lainie Keller, 908-423-4187
Kelley Dougherty, 908-423-4291
Carol Ferguson, 908-423-4465
Joe Romanelli, 908-423-5185