Merck announces plans to move headquarters

Merck is planning to move its global headquarters within the state of New Jersey to its existing property in Summit.

Currently housing research, animal health, manufacturing and consumer care operations, the new building its set to contain all the pharmaceutical giant's projects by mid-2015.

The relocation of the headquarters will be carried out as part of the organisation's ongoing plans to reduce its global real estate footprint and lower annual expenses after a merger with Schering Plough in 2009.

Merck has carried out operations in its Whitehouse Station property since 1992 after the company was housed in Rahway, New Jersey.

The new building was selected due to its strategic whereabouts and the fact it is a multi-use site with enough work space to comfortably host projects, as well as being adjacent to transport links for staff.

Kenneth Frazier, chairman and chief executive officer of Merck, said: "The relocation of our headquarters will help us achieve our future vision, reduce the size of our operating footprint and increase agility as we adapt to our changing business environment."