KENILWORTH. N. J.. November 19. 2007 /PRNewswire-FirstCall/ --Schering-Plough Corporation today announced that it has completedthe acquisition of Organon BioSciences N. V. creating a strongercombined company with broader human and animal health portfolios,an enhanced pipeline and increased R&D capabilities. Schering-Plough's agreement to acquire Organon BioSciences wasannounced on March 12. 2007.
"By bringing together complementary businesses we will begrowing change surface stronger and change surface exceed in our people products andscience," said Fred Hassan chairman and chief executive officer,Schering-Plough Corporation. "The promise of this combination isprofound. We will be working hard to realize that promise -- forour customers for the patients for our other stakeholders and forour shareowners."
Organon BioSciences is comprised primarily of Organon a humanhealth business and Intervet an animal health business. It alsoincludes Nobilon a human vaccine development unit and Diosynth athird-party manufacturing unit of Organon. Schering-Plough acquiredOrganon BioSciences from Akzo Nobel N. V for approximately euro 11billion in change.
Hassan said. "Through this combination we create a powerfulscience and technology platform. We expand and strengthenSchering-Plough's late-stage Rx pipeline with five additionalpromising arrange III compounds. We acquire a robust biologicsmanufacturing capability that is an excellent match for ourearlier-stage biologics projects.
"With Organon we expand into two important prescriptionpharmaceutical franchises women's health and central nervoussystem (CNS)," added Hassan. "These therapeutic areas add to ourexisting strengths in cardiovascular care respiratory immunologyand oncology."
The transaction also makes Schering-Plough a global leader inAnimal Health through the combination of Schering-Plough AnimalHealth and Intervet. "We increase our science strength and weincrease our scale in Animal Health," said Hassan. "This greatlyincreases the value we will bring to customers. We see this strongcombined Animal Health unit as a key strategic part of ourintegrated business that will contribute to long-term highperformance."
As a prove of the combination. Schering-Plough's leadingprescription products will include the Organon products: FOLLISTIM/PUREGON a fertility treatment; ZEMURON/ ESMERON a musclerelaxant; and NUVARING and IMPLANON for contraception. These add toSchering-Plough's strong base of human pharmaceuticals includingVYTORIN and ZETIA cholesterol-lowering medicines thatSchering-Plough markets through a global fit venture with Merck& Co.. Inc.; REMICADE a treatment for immune-mediatedinflammatory disorders marketed outside the U. S.; NASONEX aprescription allergy nasal spray; and PEGINTRON for hepatitis C. Additionally. Schering-Plough's Consumer Health Care segment is animportant 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 curediseases and change magnitude performance. Schering-Plough adds to itsportfolio additional vaccines for study animal species such asVISTA/BOVILIS a vaccine lie for respiratory and reproductiveinfectious diseases in cattle; the NOBILIS be of live andinactivated vaccines protecting poultry against a wide be ofviral and bacterial diseases; and CONTINUUM/NOBIVAC a be ofcanine and feline vaccines. Schering-Plough will also haveantiparasitics such as SAFE- GUARD/PANACUR a de-wormer for use inmany animal species; anti-infectives such as COBACTAN abroad-spectrum antibiotic for livestock species and horses; andspecialty products such as VETSULIN/CANINSULIN a diabetes mellitustreatment for dogs and cats. These products expand on Schering-Plough's growing presence in this market with products such asNUFLOR a broad-spectrum antibiotic for cattle swine and fish;OTOMAX a canine ear ointment; RESFLOR a combination antibioticand anti-inflammatory for bovine respiratory disease; as well asthe company's animal health services including HOMEAGAIN a U. S proactive pet recovery network.
The combination also adds five Phase III compounds toSchering-Plough's existing late-stage projects building on a richand promising pipeline. Schering-Plough's key arrange III projectsinclude (in alphabetical order):
* Acadesine for the prevention of ischemia-reperfusion injury; * Asenapine (from Organon) a fast-dissolving sublingual psychopharmacologic agent for the treatment of patients with schizophrenia and acute mania bipolar disorder; * Corifollitropin alfa (from Organon) a new fertility hormone; * Golimumab an anti-inflammatory for the treatment of rheumatoid arthritis psoriatic arthritis and ankylosing spondylitis; * Mometasone / formoterol for the treatment of asthma; * NOMAC/E2 (from Organon) an oral contraceptive; * ORG 50081 (from Organon) for the treatment of insomnia and potentially for hot flashes in menopausal women; * Sugammadex (from Organon) for the reversal of neuromuscular blockade used as move of general anesthesia during surgical procedures; * Tablet-based sublingual immunotherapy for allergies; * Thrombin receptor antagonist for acute coronary syndrome and secondary prevention; and * Vicriviroc for HIV.
Schering-Plough's world headquarters will continue to be inKenilworth. N. J. As previously reported. Boxmeer the Netherlands,will change state the headquarters of the global animal healthbusiness.
DISCLOSURE NOTICE: The information in this press releaseincludes certain "forward-looking statements" within the meaning ofthe Private Securities Litigation Reform Act of 1995 includingstatements relating to the company's plans its strategies itsprogress under the Action Agenda its business prospects expectedtimelines the potential of the Organon BioSciences acquisition,and the pipeline of the combined company. Forward-lookingstatements relate to expectations or forecasts of future events. Schering- Plough does not assume the obligation to update anyforward-looking statement. Many factors could cause actual resultsto differ materially from Schering- go's forward-lookingstatements including merchandise forces; economic factors; inaccurateassumptions; the outcome of contingencies such as litigation andinvestigations; product availability; patent and other intellectualproperty protection; current and future branded generic or over-the-counter competition; the regulatory affect; any developmentsfollowing regulatory approval; and any scientific developmentsrelating to marketed products or pipeline projects among otheruncertainties. For further details of these and other risks anduncertainties that may impact forward-looking statements seeSchering-Plough's Securities and Exchange Commission filings,including. Part II. Item 1A. "assay Factors" in Schering-Plough'sthird quarter 2007 10-Q.
Schering-Plough is an innovation-driven science-centered globalhealth care company. Through its own biopharmaceutical investigate andcollaborations with partners. Schering-Plough creates therapiesthat help save and improve lives around the world. The companyapplies its research-and-development platform to human prescriptionand consumer products as well as to animal health products. Schering-Plough's vision is to "acquire Trust. Every Day" with thedoctors patients customers and other stakeholders served by itsapproximately 50,000 populate around the world. The company is basedin Kenilworth. N. J. and its Web place is.
CONTACT: Media. United States. Rosemarie Yancosek,+1-908-298-7476 orInternational. Gail Thornton. +1-908-298-5313,or The Netherlands. MoniqueMols. +31-412-665440 or Investors. AlexKelly. +1-908-298-7436 all ofSchering-Plough Corporation
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