Merck & Co., Inc. to Invest $1.5 Billion for R&D in China
Published: Dec 06, 2011
"The establishment of the MSD Asia R&D headquarters represents an important milestone as we implement our strategy of building capabilities, and relationships to succeed in fast growing geographic regions," said Peter S. Kim, Ph.D., president, Merck Research Laboratories. "By strategically locating in China, we are able to complement our existing R&D capabilities, and facilitate new collaborations with scientists in the region and across emerging markets."
Located in Wangjing Park, one of Beijing's rapidly expanding science and technology parks, the facility will consist of 47,000 square meters of office and laboratory space. The first phase of construction, scheduled to be completed by 2014, will provide capacity for approximately 600 employees working in the areas of drug discovery, translational research, clinical development, regulatory affairs and external scientific research programs.
"Merck/MSD has a proud legacy of translating scientific breakthroughs into novel medicines and vaccines with proven ability to impact global human health," said Michel Vounatsos, chairman and president, MSD in China. "We are immensely proud of the impact that MSD's medicines and vaccines have had on improving health for the people of China as we have grown our business here, and are we eager to build on this legacy by directly investing in R&D here in China to bring forward more innovations that can help people in China and around the world."
Merck conducts research in a broad range of therapeutic categories including cardiovascular disease and diabetes, which are becoming increasingly prevalent in China. The company's global scientific strategy is focused on retaining deep internal therapeutic area and functional expertise in core therapeutic areas while strategically collaborating to access external innovation.
Merck also maintains its commercial headquarters for MSD in China in Shanghai and has manufacturing capabilities at other locations throughout China.
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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. Such statements may include, but are not limited to, statements about the benefits of the merger between Merck and Schering-Plough, including future financial and operating results, the combined company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Merck’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the possibility that the expected synergies from the merger of Merck and Schering-Plough will not be realized, or will not be realized within the expected time period; the impact of pharmaceutical industry regulation and healthcare legislation; the risk that the businesses will not be integrated successfully; disruption from the merger making it more difficult to maintain business and operational relationships; Merck’s ability to accurately predict future market conditions; dependence on the effectiveness of Merck’s patents and other protections for innovative products; the risk of new and changing regulation and health policies in the United States and internationally and the exposure to litigation and/or regulatory actions.
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MSD in China
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