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Post a commentFTC approves Merck-Schering-Plough deal
Merck & Co. today won Federal Trade Commission approval to buy rival Schering-Plough Corp. after agreeing to sell its stake in the Merial Ltd. animal health business and in the nausea drug rolapitant. Merck must divest those assets for antitrust reasons, the FTC said.
Merck already agreed to sell its 50 percent share in the Merial joint venture to Paris-based Sanofi-Aventis SA. It will sell rolapitant-related assets to Miami-based Opko Health Inc., the FTC said.
Merck, based in Whitehouse Station, New Jersey, also has major operations in Montgomery County. In March, it agreed to purchase Schering-Plough, of Kenilworth, N.J., in a deal worth $41 billion. The companies have previously said they planned to complete the deal by the end of the year.
Also today, Merck said it received merger approval from Canadian and Swiss regulators. The companies are still awaiting approval from other countries, including China and Mexico. - Miriam Hill
