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news.Schering-Plough has completed the acquisition of Organon BioSciences from Akzo Nobel for approximately E11 billion in cash.
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Schering-Plough said that the acquisition created a stronger combined company with broader human and animal health portfolios, an enhanced pipeline and increased R&D capabilities.
Organon BioSciences is comprised primarily of Organon, a human health business, and Intervet, an animal health business. It also includes Nobilon, a human vaccine development unit, and Diosynth, a third-party manufacturing unit of Organon.
Fred Hassan, chairman and CEO of Schering-Plough, said: “Through this combination we create a powerful science and technology platform. We expand and strengthen Schering-Plough’s late-stage Rx pipeline with five additional promising Phase III compounds. We acquire a robust biologics manufacturing capability that is an excellent match for our earlier-stage biologics projects.”
Schering-Plough said that the transaction also makes it a global leader in animal health through the combination of Schering-Plough Animal Health and Intervet.