AstraZeneca Exercises Option to Acquire Merck's Interest in Partnership Products
WHITEHOUSE STATION, N.J., March 1, 2010 - Merck & Co., Inc. announced today that it has been advised by AstraZeneca PLC that it will exercise the option to obtain Merck's interest in AstraZeneca's non-proton pump inhibitor (non-PPI) products this year. Those products are AtacandTM, LexxelTM, PlendilTM and EntocortTM plus certain products currently in clinical development. In April, Merck will receive a payment of $647 million which represents the net present value as of March 31, 2008 for the company's share of the projected pretax revenue for the non-PPI products.
As a result of this decision, AstraZeneca will have an option to acquire Merck's interest in the PPI products, including NexiumTM, in 2012, or later, under certain circumstances.
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The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the possibility that the expected synergies from the merger of Merck and Schering-Plough will not be realized, or will not be realized within the expected time period, due to, among other things, the impact of pharmaceutical industry regulation and pending legislation that could affect the pharmaceutical industry; the risk that the businesses will not be integrated successfully; disruption from the merger making it more difficult to maintain business and operational relationships; Merck's ability to accurately predict future market conditions; dependence on the effectiveness of Merck's patents and other protections for innovative products; the risk of new and changing regulation and health policies in the U.S. and internationally and the exposure to litigation and/or regulatory actions.
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