(Read more on the industrial market.)
RIVERSIDE, PA-Under an unusual agreement, Merck & Co. Inc.has sold its 327-acre pharmaceutical manufacturing complex to anentity of Philadelphia-based PRWT Services Inc. PRWT will continueto operate the plant through its affiliate, CherokeePharmaceuticals LLC.
Simultaneous with the acquisition, Cherokee signed a five-yearsupply agreement with Merck for an estimated value of between $100million and $200 million a year. The plant, known as the Cherokeechemical manufacturing plant, produces antibiotic products forhumans and animals. It was among the largest employers inNorthumberland County, and the new owner is retaining all 400employees.
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