March 13, 2007
Schering-Plough to acquire Organon BioSciences
Schering-Plough announced that it will acquire Organon BioSciences, the human and animal health care business of Netherlands-based Akzo Nobel, in a deal valued at $14.4 billion. The transaction is expected to close by the end of 2007.
Organon’s pharmaceutical business had sales of $3.4 billion in 2006, fueled by sales of Follistim/Puregon, a follicle stimulating hormone for infertility; Esmeron/Zemuron, a muscle relaxant and NuvaRing and Implanon for contraception. Organon’s Intervet animal health business had sales of $1.5 billion in 2006.
Organon currently has five pharmaceutical compounds in phase III development, including agents for the treatment of schizophrenia and bipolar disorder, surgically induced neuromuscular blockade, infertility and an oral contraceptive.
Under the deal, Organon’s R&D facility in Oss, the Netherlands, will become the center of Schering-Plough’s global gynecology and fertility activities, while Organon’s neuroscience research will continue in Newhouse, Scotland, Schering-Plough said in a news release.