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S U B S C R I B E
Tuesday, 24 April, 2012
Shock as Merck shutters Geneva HQ
Merck has announced that it will relocate the headquarters of its biopharmaceutical division, Merck Serono, from Geneva to Germany. The move will mean the loss of some 1,250 jobs in Geneva—though about 750 employees will be offered positions in other locations, mainly in the U.S. or Germany. The decision comes as Merck has been slammed by pharmaceutical setbacks, including a dip in sales of its best-selling multiple sclerosis drug and a rejection of its lung cancer drug by the European Union—but the company was still in the black. So was the move a surprise? Are more cuts on the way? WRS’s Alex Helmick hears from Merck Serono chairman François Naef, Helvea analyst Odile Rundquist and Thomas Cueni, head of Interpharma, which represents the Swiss pharmaceutical industry:
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Comments
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It is urgent to publish a serious economical analysis of this disaster. What are the reasons and their weights: cultural differences (biotech vs. chemical; Merck vs. Serono), Tax levels, Serono lacks of innovation, competition between two centers Geneva and Darmstadt, Merck’s owners pressure to keep 70% of capital. Also, It seems that Merck will still gain money with Rebif, so this operation is profitable. We wonder about real reasons.
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