Since 1992, Merck has called Whitehouse Station, NJ home to its corporate headquarters. Now followings its merger with Schering Plough in 2009, it has decided to close and shutter the facility, relocating its headquarters and some 2,00 employees and contractors to new digs scattered around New Jersey. And the company is billing the move as a sign of its increasing corporate.
The pharmaceutical giant's new global headquarters will be in Summit, NJ, where 1,800 staffers currently work on R&D, manufacturing and consumer care. For those who can't fit into Summit, Merck will offer new offices in Branchburg and Cokesbury, NJ.
"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 CEO Kenneth C. Frazier in a statement.
The move will take at least a year to complete. The relocation will get started in 2014 and be finished by mid-2015.
The prospect of more empty biopharma space in New Jersey won't likely excite state economic development officials, who are making efforts to retain biopharma. But after losing huge R&D operations at Sanofi and Roche, as well as the closing or moving other small to mid-size pharma facilities, the state must also be breathing a big sigh of relief that its marquee pharma player will continue to call New Jersey its home state. (Read the WJS story)