Merck Plans Bay Area Expansion
Merck is planning a push into South San Francisco as part of a larger reorganization involving site closures and job cuts at sites in New Jersey and Pennsylvania. The healthcare giant hopes to hire 100 researchers in the Bay Area to build up cancer and bioinformatics capabilities.
Merck has been shopping for permanent space in the Bay Area, the San Francisco Business Times reports. The company has an existing Palo Alto site that will be closed when long-term offices are found.
A flurry of local acquisitions is part of the company’s move westward. Merck purchased Afferent Pharmaceuticals based in San Mateo in June for $1.2B. The company also bought a stake in South San Francisco’s NGM Biopharmaceuticals. [SFBT]