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USA: Reverse Merger Merck-Schering Plough - IP Lawyers in the Driving Seat
For once it is not corporate lawyers but IP lawyers who are very much in the driving seat! We understand that the $41.1 billion Merck-Schering Plough merger announced yesterday will be structured as a reverse merger. Interestingly, the corporate structure of the transaction seems to be intellectual property driven. Schering-Plough markets the ($2.1 billion in annual sales) Remicade outside of the US under a license agreement with Johnson and Johnson which sells the drug in America. This agreement contains a termination clause that stipulates that the ex-US rights to Remicade (and another drug being developed) would revert to Johnson and Johnson if control or ownership of Schering [...]
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- Subject : Economics - IP Field : Intellectual Property