Fried Frank Harris Shriver & Jacobson and Wachtell Lipton Rosen & Katz have secured lead roles on Merck's $41bn (£28.4bn) acquisition of US pharma rival Schering-Plough. The two firms have long been major M&A counsel to the two companies with Fried Frank advising Merck and Schering instructing Wachtell.The deal comes roughly two months after Pfizer's $68bn (£47.2bn) acquisition of Wyeth and is the latest signal that pharmaceutical companies facing patent expirations on key drugs are willing to spend big to acquire rivals with deeper pipelines.In Merck's case, revenues from two major cholesterol treatment drugs (Zetia and Vytorin) fell by more than a third last year (Merck already had split those revenues with Schering), and generic drugs will begin competing with Merck mainstays over the next five years.
March 09, 2009 at 01:26 PM
1 minute read
The original version of this story was published on Legalweek
Fried Frank Harris Shriver & Jacobson and Wachtell Lipton Rosen & Katz have secured lead roles on Merck’s $41bn (£28.4bn) acquisition of US pharma rival Schering-Plough.
The two firms have long been major M&A counsel to the two companies with Fried Frank advising Merck and Schering instructing Wachtell.
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