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A $14.4B cash acquisition that gave Schering-Plough Organon's women's health and animal-health franchise—only for Schering-Plough itself to be absorbed by Merck two years later. The assets outlasted the acquirer, proving more valuable under Merck's longer-term ownership.
Women health and animal health assets briefly held before Merck absorption
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Schering-Plough acquired Organon BioSciences N.V. from Akzo Nobel in 2007 for approximately $14.4 billion in cash, gaining Organon's human-pharmaceuticals franchise in women's health and central nervous system disorders along with the Intervet animal-health business. The acquisition, completed in November 2007, expanded Schering-Plough's specialty pipeline and global footprint.
6.1M US cases/yr · $8.0B Global Women's Health Market (2007)
This subsidiary record reflects Organon & Co.'s integration into Schering-Plough following the $14.4B acquisition of Organon BioSciences from Akzo Nobel. Organon's portfolio spanned women's health (contraception, fertility) and neuroscience (asenapine for schizophrenia/bipolar), with five Phase III compounds at acquisition.
Organon & Co. became a subsidiary of Schering-Plough in November 2007. When Merck acquired Schering-Plough in 2009, Organon's assets transferred to Merck. In 2021, Merck spun off the women's health portfolio as a new public company called Organon & Co., completing a full circle.
Schering-Plough completes acquisition/merger of Organon & Co., marking formal close of the transaction and start of integration activities.
Schering-Plough held Organon two years before 2009 Merck reverse merger. Assets proved more valuable under Merck long-term ownership.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Schering-Plough Corp. / Organon & Co. (this deal) | 2007 | $14.4B | 48 |
| Schering-Plough Corp. / Organon International | 2007 | $14.4B | 56 |
| Schering-Plough Corp. / Organon BioSciences N.V. (Akzo Nobel) | 2007 | $14.5B | 48 |
| Schering-Plough Corp. / NeoGenesis Pharmaceuticals | 2005 | — | 30 |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program) | 2015 | $250M | 91 |
| Cephalon Inc. / Laboratoire L. Lafon S.A. (Group Lafon) | 2000 | $450M | 89 |
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