Merck & Company (MRK) has released an update to notify the public and investors about termination and asset disposition expenses.
On January 29, 2024, the Company initiated the 2024 Restructuring Program to enhance its Human Health and Animal Health global manufacturing networks in response to shifts in its future pipeline and to improve supply reliability and efficiency. This program, expected to be completed by the end of 2031, is projected to cost around $4.0 billion, with 60% being non-cash expenses due to accelerated depreciation of facilities and the rest being cash expenditures for facility shutdowns.
For further insights into MRK financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.