KENILWORTH, N.J., Nov. 19 Schering-PloughCorporation (NYSE: SGP) today announced that it has completed the acquisitionof Organon BioSciences N.V., creating a stronger combined company with broaderhuman and animal health portfolios, an enhanced pipeline and increased R&Dcapabilities. Schering-Plough's agreement to acquire Organon BioSciences wasannounced on March 12, 2007.
"By bringing together complementary businesses, we will be growing evenstronger and even better in our people, products and science," said FredHassan, chairman and chief executive officer, Schering-Plough Corporation."The promise of this combination is profound. We will be working hard torealize that promise -- for our customers, for the patients, for our otherstakeholders and for our shareowners."
Organon BioSciences is comprised primarily of Organon, a human healthbusiness, and Intervet, an animal health business. It also includes Nobilon,a human vaccine development unit, and Diosynth, a third-party manufacturingunit of Organon. Schering-Plough acquired Organon BioSciences from Akzo NobelN.V. for approximately euro 11 billion in cash.
Hassan said, "Through this combination we create a powerful science andtechnology platform. We expand and strengthen Schering-Plough's late-stage Rxpipeline with five additional promising Phase III compounds. We acquire arobust biologics manufacturing capability that is an excellent match for ourearlier-stage biologics projects.
"With Organon, we expand into two important prescription pharmaceuticalfranchises, women's health and central nervous system (CNS)," added Hassan."These therapeutic areas add to our existing strengths in cardiovascular care,respiratory, immunology and oncology."
The transaction also makes Schering-Plough a global leader in AnimalHealth through the combination of Schering-Plough Animal Health and Intervet."We increase our science strength, and we increase our scale in AnimalHealth," said Hassan. "This greatly increases the value we will bring tocustomers. We see this strong combined Animal Health unit as a key strategicpart of our integrated business that will contribute to long-term highperformance."
As a result of the combination, Schering-Plough's leading prescriptionproducts will include the Organon products: FOLLISTIM/ PUREGON, a fertilitytreatment; ZEMURON/ ESMERON, a muscle relaxant; and NUVARING and IMPLANON forcontraception. These add to Schering-Plough's strong base of humanpharmaceuticals, including VYTORIN and ZETIA, cholesterol-lowering medicinesthat Schering-Plough markets through a global joint venture with Merck & Co.,Inc.; REMICADE, a treatment for immune-mediated inflammatory disordersmarketed outside the U.S.; NASONEX, a prescription allergy nasal spray; andPEGINTRON for hepatitis C. Additionally, Schering-Plough's Consumer HealthCare segment is an important asset with key products, including OTC CLARITIN,MiraLAX, DR. SCHOLL'S and COPPERTONE.
In Animal Health, the combination brings together complementarypharmaceutical products and vaccines to help prevent and cure diseases andincrease performance. Schering-Plough adds to its portfolio additionalvaccines for major animal species, such as VISTA/BOVILIS, a vaccine line forrespiratory and reproductive infectious diseases in cattle; the NOBILIS rangeof live and inactivated vaccines protecting poultry against a wide range ofviral and bacterial diseases; and CONTINUUM/NOBIVAC, a range of canine andfeline vaccines. Schering-Plough will also have antiparasitics such as SAFE-GUARD/PANACUR, a de-wormer for use in many animal species; anti-infectivessuch as COBACTAN, a broad-spectrum antibiotic for livestock species andhorses; and specialty products such as VETSULIN/CANINSULIN, a diabetesmellitus treatment for dogs and cats. These products expand on Schering-Plough's growing presence in this market with products such