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Merck & Co., Inc. (MRK) Shuts Down RNAi Research Center in SF, Cutting 50 Jobs



8/1/2011 7:26:01 AM

Merck has decided to close down the RNA interference research facility it obtained through its $1.1 billion acquisition five years ago of San Francisco-based Sirna Therapeutics, the company said late today. About 50 jobs are being eliminated, while about 10 people are being offered transfers to other Merck (NYSE: MRK) facilities on the East Coast and in Palo Alto, CA, says company spokesman Ian McConnell. The company still plans to utilize the RNAi technology it got via the Sirna acquisition throughout its global R&D operation, he says. Employees in San Francisco, at the facility at 1700 Owens Street in Mission Bay, were told about the shutdown today, McConnell says.

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