SUMMIT, NJ - Celgene Corporation has agreed to acquire the former Merck campus located at 556 Morris Avenue, city officials confirmed. The search for a purchaser for the campus has been underway since Merck & Co., Inc. announced plans in October 2013 to move its global headquarters to Kenilworth.
“The Celgene Corporation is an exceptional company and a preeminent leader in the integrated biopharmaceutical industry that is committed to improving the lives of patients worldwide. The City holds Celgene in high regard for being a long-standing community partner, and we anticipate them making the most of an outstanding property,” said Summit Mayor Ellen Dickson. “It is an exciting prospect that Celgene will continue to develop and grow its highly successful business in this world-class Summit location."
Founded in 1986, Summit-based Celgene is an global integrated biopharmaceutical company focusing on the discovery, development, and the commercialization of products for the treatment of cancer and other severe, immune, inflammatory conditions. There are currently more than 300 clinical trials at major medical centers using compounds from Celgene, which has more than 6,000 employees worldwide, and reported 2014 revenues of $7.6 billion.
The site includes research and development facilities, laboratory and support buildings, manufacturing capabilities, storage, warehouse buildings, and administrative office space. The site has approximately 850,000 square feet of administrative office space and 450,000 square feet of R&D space.
The exact nature of how Celgene will utilize the property is unknown at this time, as is a proposed occupancy date. The City of Summit hopes to issue an update on specific usage and other, key site-related developments in the next several months.
“This agreement is the result of considerable efforts by Mayor and Council,” said Common Council President Dr. Robert Rubino. “We are extremely pleased that our work to create a business-friendly environment for our largest corporate citizen has resulted in Celgene reinvesting and expanding here in Summit. As Celgene continues to develop its role as an integral investor in our community, more jobs will be created locally and our downtown and area businesses will benefit as well. This is a win for both the City and Celgene, and a clear indication that Summit is a great place to do business.”