Merck, Schering-Plough shareholders OK $41B deal

Shareholders of drugmakers Merck&Co. and Schering-Plough Corp. on Friday both overwhelmingly backed a huge tie-up of the New Jersey neighbors, and shares of both companies jumped.

The acquisition of smaller Schering-Plough allows Merck, the world's eighth-biggest drugmaker by prescription medicine sales, to leapfrog to No. 2 worldwide, just behind Pfizer Inc. The new Merck would have about $42.4 billion in annual sales.

Merck and Schering-Plough already are partners on the blockbuster cholesterol drugs Vytorin and Zetia. The marriage will unite Merck's asthma and allergy treatment Singulair and cervical cancer vaccine Gardasil with Schering-Plough's allergy spray Nasonex and well-known consumer products including the Coppertone sun care line and Dr. Scholl's foot care items.

Read Full Article from Atlanta Journal Constitution

- Posted: 2009-08-07 13:31:02

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