FTC ENTERS INTO A SETTLEMENT REGARDING SCHERING-PLOUGH’S ACQUISITION OF ORGANON BIOSCIENCES N.V.
On November 16, 2007, the Federal Trade Commission entered into a settlement regarding Schering-Plough Corporation’s proposed $14.4 billion acquisition of Organon BioSciences N.V. from Akzo-Nobel N.V. The FTC alleges that the deal harms competition in the U.S. markets for the manufacture and development of three poultry vaccines. In settling the charges, the companies entered into a consent order with the Commission that required the merging parties to divest the rights and assets needed to develop each vaccine to Wyeth within 10 days of the acquisition and to provide supply and transitional support services to Wyeth’s Fort Dodge division for two years.
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