After cutting costs in its Merck Sorono pharma business Darmstadt-based pharmaceutical company Merck has announced that it plans to subject its lab division Millipore to cost cuttings. As of 2017, the company plans net cost savings to the amount of EUR 40m it announced on Wednesday prior to an event for analysts and investors.
Cost savings, to be realized by raising efficiency with regards to production and logistics, will lead to extra costs to the amount of EUR 160m from 2013 to 2016. The company took over Millipore in 2010 for an estimated price of EUR 5bn. With a total revenue of about EUR 2.4bn Merck Millipore became Merck’s second-biggest division in 2011.
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