[THE INVESTOR] Global pharmaceutical and chemical enterprise Merck will establish a nonprofit company, the Merck Family Foundation, to expand its charitable work, the Germany-based company said on June 20. 

The Merck Family Foundation will conduct charitable work such as promoting public health care and education, providing emergency aid in a community. To be involved in international development cooperation as a further goal, the global pharmaceutical company is also working out research projects.     

“We know how much we owe to the communities in which our global sites operate. With the Merck Family Foundation, the members of the family wish to expand their efforts beyond doing good and give back to the community,” said Frank Stangenberg-Haverkamp, chairman of E. Merck KG. 

The Merck Family Foundation will be funded exclusively by the Merck family to use financial resources to promote the well-being of society, the company said.

By Park Yuna (yunapark@herladcorp.com)