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Merck KGaA to Cut Jobs After Drug Development Failures

Merck KGaA plans to cut jobs across its drug and chemical businesses after setbacks in developing medicines for cancer and multiple sclerosis.

Executives will begin consulting with worker representatives on the reductions, Darmstadt, Germany-based Merck said today in a statement. It’s too soon to announce detailed plans for reducing costs or jobs, which will take place at all businesses and in all regions, the family-controlled company said.