Schering-Plough - clearance to acquire Organon Bio

Schering-Plough applies for clearance to acquire Organon BioSciences

The Commerce Commission has received an application from Schering-Plough Corporation (Schering-Plough) seeking clearance to acquire 100% of the shares in, or assets of, Organon BioSciences N.V.(Organon BS). In New Zealand, Organon BS operates as Intervet Limited.

Shering-Plough is a New Jersey based corporation, listed on the New York Stock Exchange. It is a global science-based healthcare company with activities in the prescription and over-the-counter pharmaceutical, consumer and animal health sectors. In New Zealand, Schering-Plough's animal health business operates as Schering-Plough Coopers.

Organon BS is a public limited liability company incorporated in the Netherlands. Organon BS is a wholly-owned subsidiary of Akzo Nobel N.V., a public limited liability company also incorporated in the Netherlands. Organon BS is the holding company for the human and animal health activities of Akzo.

In New Zealand, Organon BS operates as Organon, the human pharmaceutical business, and Intervet, the animal remedies business. The New Zealand company, Intervet Limited, is ultimately owned by Akzo.

In considering the application, the Commission's role is to determine whether the acquisition has the effect of substantially lessening competition in one or more markets.

A public version of the application will shortly be available on the Commission's website www.comcom.govt.nz under Public Registers.

ENDS

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