Merck buys drug rival Schering-Plough
Merck & Co. is buying Schering-Plough Corp. for US$41.1 billion in a deal that gives Merck key new businesses, access to a promising pipeline of new products and the chance to further cut costs, including eliminating about 16,000 jobs.
Drug developer Schering-Plough Corp. spent $520,000 in the first quarter to lobby on patent reform legislation, drug safety and other issues, according to a disclosure report.