Teams from Merck & Co. (NYSE:MRK) and Schering-Plough Corp. (NYSE:SGP) are meeting to get a jump on what could be a complex integration. Merck is acquiring Schering for $41.1 billion. The deal is expected to close in the fourth quarter.
In its
third-quarter earnings announcement on Thursday, Schering noted that "pre-integration planning teams [from the companies] have been meeting collaboratively to plan for a smooth and effective integration."
The companies have already made decisions about
key executive appointments, including that Merck president of global pharmaceuticals Adam Schechter, who's leading the integration effort, will lead the combined company's U.S. market. Brent Saunders, Schering's president of consumer healthcare, is the integration lead at his firm.
At the same time, both companies have been divesting assets to meet Federal Trade Commission requirements. Schering is selling assets related to a receptor antagonist program to Opko Health Inc., and Merck sold its 50% interest in the
Merial Ltd. animal health joint venture to partner Sanofi-Aventis SA $4 billion. -
Suzanne Stevens
Juergen Lasowski
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