Merck Buys Schering-Plough -- and Time

Merck's acquisition of Schering-Plough is all about buying breathing room, relief from what looks to be a 4-year, 50% earnings decline as key products go generic. Moreover, the relief comes relatively inexpensively (unless J&J steps in with a counteroffer), a fact that reflects Schering's lack of strategic options. In this interview, Merck's R&D boss Peter Kim and chief strategist, Mervyn Turner, explain the key pipeline and marketing complementarities and cost-cutting possibilities which prompted the deal -- and how they plan to integrate the two businesses.

By Roger Longman

It’s difficult to avoid drawing comparisons between the first two Big Pharma acquisitions of 2009. Both Pfizer Inc.’s acquisition...

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