Merck & Co. reported that it failed to sell its

Netherlands-based bioscience research unit Organon, or find an alternative solution to avoid closing down the division.

In July, Merck announced it would close its R&D sites in the Netherlands as part of a major global restructuring effort.

However, in September, the company opted to postpone the closure, which would have resulted in the loss of approximately 2000 of the 4500 jobs at Organon's sites, while it evaluated potential alternatives including a possible sale.

Despite these efforts, the drugmaker indicated that it had not been able to develop a feasible business plan for the unit and talks with various parties had not resulted in a deal suitable to stakeholders.

While the names of interested parties were not disclosed, reports had suggested Aspen Pharmacare, Takeda and Pantarhei had made offers for parts of the business.