Merck and Schering-Plough have received clearance from the European Commission (EC) under the EC Merger Regulation for their proposed merger.
Reportedly, the integration planning teams from Merck and Schering-Plough are working together to ensure that the combined entity will be well equipped to begin its first day of business as soon as the merger is completed. Both the firms expect the transaction to close in the fourth quarter of 2009.
Richard Clark, chairman, president and CEO of Merck, said: “Approval from the European Commission marks a key milestone for the completion of our transaction with Schering-Plough. We’re making good progress towards our closing and look forward to creating a strong, global leader that will make a substantial difference to patients and health care around the world.”