Merck & Co. is terminating its early drug research in the UK and pulling out of plans for a £1 billion ($1.4 billion) London research hub, marking the latest setback for the country’s domestic pharmaceutical industry.
The US drugmaker said Wednesday it will no longer occupy a new building in the capital that would have employed 800 people and plans to vacate labs at the Francis Crick Institute by the year end. Merck blamed the move on the UK government’s failure to invest enough in the life sciences sector and underpaying for new drugs. The move will eliminate 125 jobs.
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