Merck (MRK) to Further Streamline R&D Unit; Job Cuts Planned
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Financial Fact:
Marketing and administrative: 7.32B
Today's EPS Names:
WPRT, ITRG, ALM, More
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(Updated - June 14, 2013 1:34 PM EDT)
Merck & Co., Inc. (NYSE: MRK) said to cut jobs and change organizational structure of R&D unit.
According to Dow Jones, a spokesperson commented Friday, "The changes will involve a reduction in force, some more immediate and some over time...These changes are part of our existing strategy and ongoing commitment to streamline our operating model and aggressively manage our cost structure."
Changes will come at Marck Research laboratories (MRI). It wasn't made clear what the new arrangement will be or how many positions will be cut.
Over the last few years, Merck has had some kinks appear in its pipeline. Heart drugs Tredaptive and vorapaxar have had negative study results while the pharma's proposed bone-building drug odanacatib has seen a delay to regulatory filing.
Shares of Merck are up 0.3 percent Friday.
Merck & Co., Inc. (NYSE: MRK) said to cut jobs and change organizational structure of R&D unit.
According to Dow Jones, a spokesperson commented Friday, "The changes will involve a reduction in force, some more immediate and some over time...These changes are part of our existing strategy and ongoing commitment to streamline our operating model and aggressively manage our cost structure."
Changes will come at Marck Research laboratories (MRI). It wasn't made clear what the new arrangement will be or how many positions will be cut.
Over the last few years, Merck has had some kinks appear in its pipeline. Heart drugs Tredaptive and vorapaxar have had negative study results while the pharma's proposed bone-building drug odanacatib has seen a delay to regulatory filing.
Shares of Merck are up 0.3 percent Friday.
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