Schering-Plough says Merck merger will create new industry leader

Schering-Plough is joining forces with Merck to create a “dynamic new leader in the pharmaceutical industry”, it has asserted.

Fred Hassan is the chairman and chief executive officer of the former. Under the new agreement, he will continue overseeing the business’ operations and will participate in the integration planning until the close.

He said he is proud of what the firm has accomplished over the last six years, adding the employees had helped transform the company into a strong competitor within its field.

Mr Hassan continued to note that Schering-Plough had built a strong business with a robust pipeline and its success was due to the dedication and hard work of its global team of staff.

He commented on the merger: “The combined entity will be well-positioned to further deliver on our shared goal of discovering new therapies for patients to help them live healthier, happier lives.”

The two companies will combine under the name Merck and Richard T Clark, currently chairman, president and chief executive officer of the named business, will lead the united firm in the same roles.

At present, Schering-Plough’s headquarters are in Kenilworth, England and employs around 55,000 people.