Merck Shutting Sites as Part of Consolidation

Merck will close eight research sites and eight manufacturing plants as part of its restructuring plans following its merger with Schering-Plough, according to Drug Industry Daily. The drug giant expects to save between $2.7 billion and $3.1 billion in annual costs in 2012 as a result, the company said. It also plans on laying off 15 percent of the combined companies’ workforce to achieve a goal of $3.5 billion in annual savings. Merck’s Cambridge, Mass., research facility is the only U.S.-based one slated for closure.