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Massive pharma merger on the horizon

March 9, 2009 by  

Massive pharma merger on the horizonPharmaceutical company Merck has just announced that it will merge with a major competitor Schering-Plough creating a multinational pharmaceutical giant.

The boards of directors of both companies have unanimously approved the agreement under which they will combine in a stock and cash transaction under the name Merck.

The value of the merger is estimated at $41.1 billion.

"The combined company will benefit from a formidable research and development pipeline, a significantly broader portfolio of medicines and an expanded presence in key international markets, particularly in high-growth emerging markets," says Richard T. Clark, Merck chairman, president and CEO.

He adds, "The efficiencies we gain will allow us to invest in strategic opportunities, while creating meaningful value for shareholders."

According to the Fortune 500 2008 ranking, Merck is the world’s fourth largest pharmaceutical company with total revenue of $ 24.2 billion, while Schering-Plough is ranked ninth at $ 12.6 billion.

The announcement comes on the heels of recent complaints by natural products industry groups about the FDA practice of classifying dietary supplements as drugs if they are an ingredient of newly approved medications.

As such, they can no longer be sold without a prescription, boosting profit opportunities of pharmaceutical companies.

The critics believe that the FDA’s approach favors big pharma interest at the expense of natural supplements producers.
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  • s c mailen, jr.

    The odds are very high that this is yet another government scam, designed to streamline and protect cash cows for those who not deserve consideration. Their emphasis is always on an easy, unending cash flow (for those who don’t deserve it). If it would give us inexpensive drugs that didn’t come laced with side-effects, it might be a good idea. Until then (don’t hold your breath), it’s more of the same crap from the same old crowd that would be forced out of business if America truly had a free market economy. America, be VERY glad that air and water can’t be patented.

  • http://www.wobvel.com/webnovel Chip

    The conflation of multi-national corporate interests with our personal lives has long been a source of the corporate demeaning and devaluation of American and human life since the implementation of the 13th,14th and 15th amendments to the Constitution. This democratic rationalization usurped slave rights as people and human beings to that of corporations which were in effect recognized as people. So we have over 100 years of law and concomitant thinking that has become an established fact of American life and society. We’re in deep doo-doo, however; not to worry!!

  • http://www.gopetition.com/online/26241.html Marlene B.

    Sign Petition To Stop Television Prescription Drug Ads

    Published by Marlene B. on Mar 18, 2009
    Category: Health
    Region: GLOBAL
    Target: U.S. Congress, FCC, FDA, European Commission, EMEA

    Background (Preamble):
    Statistics prove prescription drugs are 16,400% more deadly than terrorists. According to the Journal of the American Medical Association (JAMA) in 1998, a report finds that prescription drugs kill about 106,000 Americans each year – that’s three times as many as are killed by automobiles—making prescription drug death the fourth leading killer after heart disease, cancer and stroke.

    Last year, the Journal of the American Medical Association puts death from all drugs, illegal and prescription, second only behind car accidents as a cause of death.

    The rise in deaths coincides with the direct marketing of prescription medication to the public. Prescription drug sales have soared nearly 500 percent since 1990.

    The pharmaceutical industry is a multi-trillion dollar business. Companies spend billions on advertising and promotions for prescription drugs. Pharmaceutical companies claim their drug ads are “educational” to the public. The public seems to genuinely believe that drugs advertised on TV are safe, in spite of the plethora of side effects listed. Many of these drugs have proven deadly.

    Every day it’s estimated 2,500 teens abuse a prescription pain killer for the first time.

    The White House Office of National Drug Control policy had been planning to unveil an ad campaign to target prescription drug abuse by teens. It is time to stop this form of advertising by the pharmaceutical companies.
    Petition:
    We, the undersigned, request that Congress, the FDA (Food and Drug Administration), the FCC (Federal Communications Commission), the European Commission, EMEA (European Medicines Agency) stop all television advertising of prescription drugs.
    THE LAST TIME A CURE WAS FOUND FOR A DISEASE
    WAS 1959. DR. JONAS SALK DEVELOPED THE VACCINE
    FOR POLIO. HE WAS JUST ONE MAN.
    SINCE THAT TIME, HUNDREDS OF MILLIONS OF DOLLARS
    HAVE BEEN SPENT ON DISEASE. NOT FOR A CURE, BUT FOR
    DRUG TREATMENT ONLY. A CURE WOULD PUT BIG
    PHARMA OUT OF BIZ. IT SHOULD BE THE JOB OF A PHYSICIAN
    TO PRESCRIBE THE BEST TREATMENTS TO A PATIENT, INSTEAD
    OF PATIENTS ASKING DOCTORS TO PRESCRIBE THESE DRUGS.
    BY ADVERTISING THESE DRUGS, THE PHARMACEUTICAL COMPANIES INVOLVE THEMSELVES IN A LEGAL DRUG TRADE THAT IS KILLING THOUSANDS OF PEOPLE EVERY DAY.

    • Catherine Waid

      AMEN. As more and more people wake up and reject the drugs that do not help and are killing us – Big-Pharma sees an end to their obscene profits and seek to compell us to keep taking their poisons. Just Say No! Except in emergancies – they should be rejected, and these companies investigated for the lies they have spread and the lives they have destroyed. Then they should be put in jail for their crimes – for that’s what they are…CRIMES! Our medical system is the third leading cause of death and they must be stopped. But congress seems addicted to the money (BRIBES) these corporations keep giving them…how about finding congress guilty of conspiracy or something??? We need some creative lawyers here!!! Isn’t it against the law to lie to the people?? We are really stupid to just keep taking this!! These people belong in jail!

  • http://www.gopetition.com/online/26241.html Marlene B.

    http://www.gopetition.com/online/26241.html
    Please sign this petition. Thanks!

  • http://n/a Elise Placido

    I was prescribed fish oil and upon checking into the cost I discovered that one bottle would cost me $198.00. I knew, however, that I could match up the same potency and quality w/over the counter in Health Food Store for $22.00. Need I say more…. I guess the drug companies w/the help of the FDA will find a way to take fish oil off the market and make it available on prescription only as has been done w/many other effective natural products w/o the deadly side effects of those wildly expensive drugs that are killing our seniors …. Vitamin D had been restricted to 400 I.U.’s for years and years. We just recently discovered how very deficient we all are because of this and how much it is the cause today of a lot of misery by way of sickness, etc. It sounds deliberate to me.

    Wake up America! Let’s get involved…

  • Rob

    We can easily take significant action on issues that impact out lives. Take a look at http://www.healthfreedomusa.org for recourse. You make a difference.

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