Sept 10 (Reuters) - Merck ( MRK ) said on Wednesday it
was scrapping research operations in London, citing the UK's
challenging business environment.
The company no longer plans to occupy the Belgrove House
site at King's Cross, which was due to open in 2027. The move
will impact about 125 staff members.
The company said it would relocate the research activity to
existing sites, primarily in the United States.
Pharmaceutical companies have been
shoring
up investment in the U.S. amid the Trump administration's
tariff threats and pressure to move more manufacturing to the
U.S.
The decision "reflects the challenges of the UK not
making meaningful progress towards addressing the lack of
investment in the life science industry and the overall
undervaluation of innovative medicines and vaccines by
successive UK governments," Merck ( MRK ) said in a statement.
(Reporting by Siddhi Mahatole in Bengaluru and Michael Erman in
New York; Editing by Anil D'Silva)