By Kuebi = Armin Kübelbeck [CC BY-SA 3.0] via Wikimedia Commons
Merck, the Pharmaceutical giant, has picked central London as the location of its new headquarters.
The firm’s hub will be home to 800 additional staff and 150 new researchers. The other European clinical operations of Merck will also be relocated to the site from the current headquarters of the company that is located in Hoddesdon, Hertfordshire.
The American pharmaceutical business has begun to look for potential locations for the centre, which is scheduled to open in 2020. Merck said that it chose London because the city will facilitate its work with researchers both in Europe and the United Kingdom.
The managing director of Merck in the UK and Ireland, Louise Houson, said: “We believe London to be a unique bioscience centre of excellence and a key component of the established golden triangle for academic science of London-Oxford-Cambridge.”
Merck picked London as part of a life sciences sector deal with the government.
Along with its Industrial Strategy White Paper, the government will reveal four such sector deals. Other deals have been finalised regarding the artificial intelligence, automotive, and construction industries.
The new collaborations with the government are supported by co-investments from the private sector.
Greg Clark, the Business Secretary, stated: “We are an open, flexible economy, built on trade and engagement with the world. We have a competitive business environment with a deserved reputation for being a dependable and confident place to do business, thanks to our high standards, respected institutions and a reliable rule of law.”
According to Clark, the Industrial Strategy will also aim to fix the productivity problems of the United Kingdom.