Merck Pledges $90M for San Diego Drug Research Center
On Thursday, New Jersey-based drugmaker Merck announced that it will invest up to $90 million over seven years to establish The California Institute for Biomedical Research in La Jolla. The not-for-profit center, which will focus on research into new drugs and treatments, is expected to hire as many as 150 scientists and staff members. Merck would have priority to license any research results.
- "Merck To Fund New San Diego Drug Research Center" (AP/San Francisco Chronicle, 3/15).