Merck KGaA Will Invest EUR250 Million in New Swiss Facility
January 27 2020 - 9:18AM
Dow Jones News
By Mauro Orru
Merck KGaA (MRK.XE) will invest 250 million euros ($275.5
million) to deliver a new facility in Switzerland for biotech
development and manufacturing for clinical studies, the company
said Monday.
The Germany pharmaceuticals and chemicals company said
construction of the new facility in Corsier-sur-Vevey is expected
to be completed in 2021 and enter service by the end of 2022.
"Our investment in this biotech-development facility in
Switzerland is strongly related to the growth and progression of
our health-care pipeline, and our confidence in its future
potential," said Belen Garijo, member of the Merck executive board
and CEO for health care.
Merck added that the new facility would consist of a building
with 15,700 square meters of development space.
The facility will house roughly 250 employees.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 27, 2020 09:03 ET (14:03 GMT)
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