In its first quarter earnings report released yesterday, Merck & Co. announced its intention to consolidate its New Jersey campuses into a single New Jersey headquarters location in Rahway by the end of 2023. Kenilworth has been the location of the life science company’s headquarters since 2015.
Merck had previously been based in Whitehouse Station since 1992 in a 1,100-acre office campus. Upon its acquisition of Schering-Plough in late 2009, the company decided to relocate to the aforementioned Schering campus in Kenilworth.
Meanwhile, Merck’s existing Rahway site has been in operation since 1903, when founder George Merck decided to move the company there to escape the confines of New York City. Today, the company employs an estimated 7,000 workers in New Jersey and 71,000 worldwide.
According to the earnings report, Merck’s global sales in 2019 were $46.8 billion. This year’s first quarter global sales were $12.1 billion, compared to $11 billion during the same quarter last year. Due to the impact of COVID-19, the company has lowered its full-year 2020 revenue range to between $46.1 billion and $48.1 billion.
“In this challenging and unprecedented time, the quality of our first-quarter performance reflects strong demand for our portfolio of innovative products, continued commercial and clinical execution and the dedication and resilience of our employees around the world. The fundamentals of our business remain strong,” said Kenneth C. Frazier, chairman and CEO, Merck. “The COVID-19 global pandemic poses challenges to all of us, including serious threats to the health of people, businesses and economies around the world. Without question, our industry and our company have a unique ability and responsibility to help the world respond to this pandemic by working collaboratively to deliver solutions to coronavirus infection while also maintaining the supply of medically important products to those who need them.”
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