The Commerce Commission has granted clearance to Schering-Plough Corporation in respect of the proposed merger between Schering-Plough Corporation and Merck & Co., Inc.

Commerce Commission Chair, Dr Mark Berry, said the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

Public versions of the written reasons for the decision will be available as soon as practicable on the Commission's website www.comcom.govt.nz under the Clearances Register.

Background

Schering-Plough Corporation operates in New Zealand through its subsidiary, Schering-Plough Animal Health Limited, which supplies a number of human health and animal health products.

Merck & Co., Inc. supplies a number of human health products in New Zealand through its subsidiary, Merck Sharp & Dohme (New Zealand) Limited. It also supplies various animal health products in New Zealand through its joint venture with Sanofi-Aventis Limited in Merial New Zealand Limited.