Merck Breaks Ground on $162 Million Hangzhou Facility

Merck Sharp & Dohme, the international arm of the US big pharma Merck, started construction of a 1.1 billion RMB ($162 million) pharmaceutical packaging plant in the Hangzhou Economic and Technological Area. Underscoring the global significance of the move, Merck last week announced the closing of 16 facilities in other parts of the world. Eight of those soon-to-be-closed sites are manufacturing plants. More details.... Stock Symbol: (NYSE: MRK)