Schering-Plough

August 31, 2009 -- WASHINGTON - A federal court in Newark, N.J., denied Schering-Plough Corp. a $473 million refund in connection with two transactions in which Schering-Plough sought to avoid taxation on $690 million in profits it repatriated from offshore subsidiaries into the United States.

In 1991 and 1992, Schering-Plough entered into Strippable Increasing Principal Swaps (STRIPS) transactions created by its financial advisor, Merrill Lynch. These transactions involved interest rate swap agreements with most of the receive legs assigned to Schering-Plough's controlled Swiss subsidiaries. The transactions were designed to bring previously untaxed profits made by Schering-Plough's foreign subsidiaries into the United States without paying the tax owed on repatriation.    » read more »

Arbitration Demand to Resolve Dispute over Agreements for REMICADE® and SIMPONI™

New Brunswick, N.J. (May 27, 2009) – In an arbitration demand filed today with the American Arbitration Association, Johnson & Johnson (NYSE:JNJ) has requested a ruling that the agreement and plan of merger between Merck & Co., Inc., and Schering-Plough Corporation constitutes a change of control that would permit the termination of the agreements between Schering-Plough and Johnson & Johnson’s subsidiary Centocor Ortho Biotech Inc., regarding the product REMICADE® (infliximab), a well-established biologic product for inflammatory/immunological diseases, and SIMPONI™ (golimumab), a next-generation treatment.    » read more »

Combined Company Positioned For Sustainable Growth Through Scientific Innovation And A Stronger, More Diversified Product Portfolio; Powerful Joint R&D Pipeline with Strong Candidates in All Development Phases Doubles the Number of Late-Stage Compounds to 18

WHITEHOUSE STATION, N.J. and KENILWORTH, N.J., March 9, 2009 - Merck & Co., Inc. (NYSE: MRK) and Schering-Plough Corporation (NYSE: SGP) today announced that their Boards of Directors have unanimously approved a definitive merger agreement under which Merck and Schering-Plough will combine, under the name Merck, in a stock and cash transaction.    » read more »

April 2, 2008 -- "The full results of the study released today, showing that Vytorin had no effect on heart disease, put the lie to Merck and Schering-Plough’s $200 million advertising campaign urging Americans to take this drug.

While these corporations profited, Americans were left in the dark. The millions who take this drug, taxpayers who subsidize its use through the Medicaid and Medicare programs, and Merck and Schering-Plough’s investors deserve to know why it took so long for the results to be made public.

This new information underscores our concerns and advances our investigation, which we will pursue aggressively."

Source: New York Attorney General

Launches Investigation of Vytorin Makers

NEW YORK, NY -- January 26, 2008 -‑ New York Attorney General Andrew M. Cuomo announced the service of wide-ranging subpoenas on Merck & Co. (NYSE: MRK), Schering-Plough Corp. (NYSE: SGP), and Merck/Schering-Plough Pharmaceuticals seeking information about Vytorin, advertised as a highly-effective, cholesterol-lowering drug. In a two-pronged investigation, Cuomo is seeking to determine whether the companies deliberately concealed the negative results of a research trial about the efficacy of Vytorin.    » read more »