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WEDNESDAY, NOVEMBER 25, 2009
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Merck to Buy Schering-Plough in Latest Pharma Merger

Drug giant's purchase comes weeks after Pfizer-Wyeth merger

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(Newser) – Merck announced today that it will merge with fellow drugmaker Schering-Plough in a $41.1 billion cash-and-stock deal to enlarge its pipeline of new drugs in development, reports the Wall Street Journal. The two companies have already collaborated on cholesterol drug Zetia—whose sales plummeted after a study questioned its effectiveness. The merger comes 6 weeks after rival Pfizer announced its acquisition of Wyeth.

The deal will see Schering-Plough shareholders acquire just over half a Merck share plus $10.50 in cash for each share they own. That works out to a 34% premium on Friday's closing price of Schering-Plough.

The Schering-Plough headquarters in Kenilworth, NJ. Merck said today it would acquire Schering-Plough in a $41.1 billion cash-and-stock deal.
The Schering-Plough headquarters in Kenilworth, NJ. Merck said today it would acquire Schering-Plough in a $41.1 billion cash-and-stock deal.   (AP Photo/Mel Evans)
Merck said today it would acquire Schering-Plough in a $41.1 billion cash-and-stock deal.
Merck said today it would acquire Schering-Plough in a $41.1 billion cash-and-stock deal.   (AP Photo/Mel Evans, file)
Merck & Co. headquarters is seen Wednesday, May 22, 2008, in Whitehouse Station, NJ.
Merck & Co. headquarters is seen Wednesday, May 22, 2008, in Whitehouse Station, NJ.   (AP Photo/Mel Evans)
Merck said today it would acquire Schering-Plough in a $41.1 billion cash-and-stock deal.
Merck said today it would acquire Schering-Plough in a $41.1 billion cash-and-stock deal.   (AP Photo/Mel Evans, File)
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