Merck, Schering Plough merger clears FTC hurdle
Whitehouse Station, N.J. -- Merck & Co., Inc. and Schering-Plough Corp. received clearance from the U.S. Federal Trade Commission (FTC), the Swiss Competition Commission and the Canadian Competition Bureau for their proposed merger.
Whitehouse Station, N.J.
-- Merck & Co., Inc. and Schering-Plough Corp. received clearance from the U.S. Federal Trade Commission (FTC), the Swiss Competition Commission and the Canadian Competition Bureau for their proposed merger.
While regulatory approvals are still pending in countries like China and Mexico, the companies say the intended merger is expected to close in the fourth quarter of 2009.
"Clearances from the FTC, the Swiss Competition Commission and the Canadian Competition Bureau mark significant steps in the completion of our merger with Schering-Plough,” said Richard T. Clark, chairman, president and chief executive officer of Merck. "As we work with regulators on the remaining approvals necessary for the close, we stand ready to serve patient needs as a new global healthcare leader."
