Drugmaker Merck closing 8 plants, 8 research sites

[OhioChick]

Source: Economic Times of India

8 Jul 2010, 1945 hrs IST,AGENCIES

WHITEHOUSE STATION, NEW JERSEY: Drugmaker Merck & Co. said Thursday it is shutting down eight manufacturing plants and eight research sites around the world, including two US locations, in the latest phase in its strategic pruning of operations.

The moves, which include consolidating some offices, are part of ongoing consolidation following Merck's acquisition of Schering-Plough Corp. last November.

That deal made Merck the world's second-biggest drugmaker but the company said it would eliminate about 15 percent of the combined work force, or roughly 16,000 jobs.

Those cuts are intended to save the Whitehouse Station, New Jersey, company about $3.5 billion a year.



Read more: http://economictimes.indiatimes.com/news/international-business/Drugmaker-Merck-closing-8-plants-8-research-sites/articleshow/6143874.cms

[denverbill]

1. Outsourcing manufacturing to China no doubt.

We can't re-import drugs made in the US from a Canadian pharmacy because we can't guarantee safety, but we can manufacture the drugs in the country with the absolute worst consumer product safety record on the planet. America is hopeless.

[elehhhhna]

2. don't forget India - they have no QC either.

[Robbien]

4. There was a report that certain drugs that make up 75% of Merck's business

were coming to the end of their protected patent period.

[pattmarty]

12. Holy shit!!! Time to get one of those "corporate welfare" subsidies.

Oh, I forgot, they already have "some".:sarcasm:

[Nicholas D Wolfwood]

5. Fuller information:

"Beginning in the second half of this year, Merck will start transferring production from eight manufacturing plants to other factories. One is in Miami Lakes, Fla., a plant the company intends to sell. The other factories to be closed or sold include two in Europe, two in Mexico, two in South America and one in Singapore.

Merck said that will leave it with 77 manufacturing plants, down from 91 in November. Of those, 29 plants make animal health products and are part of a pending joint venture with Sanofi-Aventis to create the world's largest maker of medicines for pets and livestock.

Over the next two years, Merck will phase out operations at eight research sites, including one outside Cambridge, Mass. Three others are in the Netherlands, three are elsewhere in Europe and one is in Canada."

http://finance.yahoo.com/news/Drugmaker-Merck-closing-8-apf-1379610435.html?x=0

[glinda]

8. Oh, I can hardly wait for more fatal side effects on my pets! Woot!

:sarcasm: :woohoo: :sarcasm: :woohoo: :sarcasm: :woohoo: :sarcasm: :banghead:

[Enthusiast]

9. Exactly.

We can have free trade for everything but drugs. Funny how that worked out.

[pattmarty]

3. My wife & I import ALL of our EXPENSIVE drugs from Canada............

...........Canada in turn gets them from all around the world. I have been doing this for more than 10 yrs and I & my wife are still alive and kicking. FUCK the US crazy drug monopolies and insane 7 or is it 10 yrs before generics come to market. What a fucked up country. We are truly fucked.

[Enthusiast]

10. It has become painfully

obvious that the U.S. is completely under the control of corporations. Pretty fucking discouraging. As if it was not bad enough before the Citizens United decision.

[HCE SuiGeneris]

6. Wells Fargo, Merck,.. anybody else?

Thank God Goldman Suks declared no double dip!

[ChairmanAgnostic]

7. closing research sites, opening advertising agencies.

[Enthusiast]

11. +1 nt

[pattmarty]

13. Viagra, Cialis anyone?

[Vinca]

14. The drug companies almost have the best scheme of all.

They create drugs, THEN find conditions to associate them with, convince the populace that 99% of them should take the crap every day for the rest of their lives and put a big price tag on them. How easy is it to close a plant then up the price of a pill a buck to make up the difference?