Merck re-org. Whole article is lengthy but I'll paste the whole thing if there's any interest. It's from the WSJ.
By
Peter Loftus And
Jonathan D. Rockoff
connect
Updated Dec. 27, 2013 4:50 p.m. ET
Merck MRK +0.14% & Co. is working on a plan to radically reshape its once-storied research-and-development unit that would create international innovation hubs tapping into drug research outside of its labs.
Merck would create these hubs in or near Boston, the San Francisco Bay area, London and Shanghai, according to people familiar with the matter—regions with a critical mass of academic and commercial R&D. The company would use the bases to scout for promising biotechnology and pharmaceutical research that Merck could license or acquire in deals, according to these people.
Meantime, the company is pruning its own research pipeline. Merck has identified dozens of compounds under study at its labs that it wants to sell off, according to a person familiar with the matter and an internal planning document reviewed by The Wall Street Journal. Among them are experimental glaucoma treatments, some antipsychotics and a male fertility drug, according to the document.
A Merck spokesman confirmed the company plans to establish a "scientific presence" in the four regions, to identify both early- and late-stage opportunities. "This is consistent with our strategy of actively seeking external scientific innovation to bolster our pipeline with candidates that provide unambiguous promotable advantage," the spokesman said. He declined to comment on potential divestiture plans.<snip>
