Merck disbands discovery team at Cubist subsidiary

Merck & Co. Inc. (NYSE:MRK) has cut about 120 jobs at its Cubist Pharmaceuticals Inc. subsidiary in Lexington, Mass., ending discovery and non-clinical operations at the site.

Merck spokesperson Lainie Keller said the company intends to develop some of Cubist's early stage projects at Merck's other facilities, but declined to provide details. She said the cuts would not affect development of later stage candidates at the site. ...