Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Merck & Co. Inc. (MRK) Shuts Down Florida Facility

Merck & Co., Inc. (NYSE:MRK) will start laying off more than 100 employees in its production plant in Florida next month as it prepares for the closure of the facility.

Factory Shutdown

The pharmaceutical giant intends to lay off employees in two waves, the first of which is set next month and the other one in December. Only two employees will remain until 2017 to complete the closure of the factory.

Merck MRK

360b /

The move is part of the company’s plans to minimize its manufacturing network. Merck & Co., Inc. (NYSE:MRK) had already shut down or unloaded a number of its manufacturing plants in Ireland and Puerto Rico.

Pressured to enforce cost-cutting initiatives over the past few years, major pharmaceutical industry players have resorted to shutting down or restructuring manufacturing plants and cutting jobs.

Earlier this year, AstraZeneca plc (ADR) (NYSE:AZN) has revealed that it would revitalize its manufacturing network as part of its billion-dollar cost-cutting prospects. Similarly, Novartis AG (ADR) (NYSE:NVS) has announced in January that it would rethink its production network as part of its restructuring efforts to realize savings.

The Liver Meeting 2016 Presentation

Merck & Co., Inc. (NYSE:MRK) will be presenting new data from its chronic hepatitis C virus (HCV) clinical development programs at The Liver Meeting 2016, which will be held on November 11 to 15 in Massachusetts.

The presentation will include 15 abstracts involving the clinical evaluations of ZEPATIER (elbasvir and grazoprevir) and MK-3682B (MK-36821/grazoprevir 2/rusazvir) among chronic HCV patients.

“Merck has been a part of the fight against chronic hepatitis C infection for more than 30 years, and that fight continues,” noted Eliav Barr, Ph.D., Merck Research Laboratories Senior Vice President (SVP) Global Clinical Development, Infectious Diseases, and Vaccines.

ZEPATIER is a combination of elbasvir, an HCV NS5A inhibitor; and grazoprevir, an HCV NS3/4A protease inhibitor. In the US, it is approved for the treatment of chronic HCV GT1 patients.

At Wednesday’s close, Merck is up by 0.54% at $62.80; AstraZeneca is up by 0.09% at $32.60; and Novartis is up by 0.34% at $79.13.

Follow Merck & Co. Inc. (NYSE:MRK)
Trade (NYSE:MRK) Now!

Note: This article is written by Andy Parker and originally published at Market Exclusive.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.