In connection with the clearance, Schering-Plough has agreed to divest certain animal health products in Europe. The divestitures are not material to the company’s financial results. No divestitures of human health products are required.
Organon BioSciences is comprised mainly of Organon, the human pharmaceutical business, and Intervet, the animal health business. It also includes Nobilon, the human vaccine development unit, and Diosynth, the third-party manufacturing unit.
Schering-Plough still needs to secure certain regulatory approvals, including clearance from the US Federal Trade Commission (FTC), and expects the transaction to be completed by year-end 2007.