Tuesday, October 09, 2012

Merck moves headquarters to cut costs - MarketWatch

via marketwatch.com

Merck & Co. will move its global headquarters to an existing Merck campus in Summit, N.J., from Whitehouse Station, N.J., as the drug giant continues its cost-cutting efforts.

Merck said relocating its headquarters is part of an ongoing program to shrink its real-estate footprint and reduce annual operating expenses following its $50 billion acquisition of Schering-Plough in 2009.

Aside from cost-cutting, the new location is closer to certain transportation links such as Newark Liberty International Airport and commuter rail, than Whitehouse Station. Summit, a suburb of New York, is roughly 30 miles east of Whitehouse Station, or a half-hour drive via I-78 in smooth traffic.

Posted via email from Jack's posterous

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