This is my emerging collection of thoughts and observations on what the “New Merck” will look like, after the bust-up of Schering-Plough, by Merck, is completed, over the next couple of years.
I’ll take a look at what it will face, as issues, in (a) integrating the old Schering-Plough operations, (b) spinning off the Merial businesses, then (c) joint venturing the Intervet businesses, only to
(d) buy back into the Merial joint venture, once enough of (e) the competing lines have been divested(!). [This last step has been aborted, and the two separate animal health businesses returned their owners — in early-2011 — as both concerns came to realize that a feasible transaction (and one that would still satisfy antitrust regulators in the EU and US) was not possible at an advantageous implied price.]
Finally, I’ll look at which companies might (f) partner with the Consumer Health Care business, and what will become of (g) the Johnson & Johnson arbitration for the return of exclusivity in the Remicade and Simponi franchises. [The arbitration was settled on terms favorable to J&J — but Merck retained some revenue streams — not a total loss, at mid-2011.] Should be entertaining, if nothing else.