Biotech Values

[DewDiligence]

New Merck Management = Old Merck Management

[This will bolster JNJ’s argument in the Remicade dispute that MRK’s structuring the merger as a takeover of MRK by SGP is a sham. Notably absent from the ranks of senior management of the merged company is Carrie Cox, SGP’s head of pharma.]

http://blogs.wsj.com/health/2009/08/31/new-merck-management-a-lot-like-the-old-merck-management/

›August 31, 2009, 8:52 AM ET
By Jacob Goldstein

Merck just described what the company’s new management team will look like after the company’s merger with Schering-Plough goes through (assuming it’s cleared by regulators). The bottom line: Several key people in top positions at Merck will keep their jobs in the combined company.

Dick Clark, Merck’s CEO, will run the combined show. Merck’s head of global human health, Kenneth C. Frazier, will be head of global human health in the merged company. The same holds true for Peter Kim, who heads the company’s research labs, and Willie A. Deese, the head of manufacturing.

As part of the merger, Merck agreed to sell its share in the Merial animal-health business to Sanofi-Aventis. Raul E. Kohan, who heads Schering’s animal health business, will continue to run that operation under Merck.

Merck’s also acquiring a consumer health business as part of the Schering deal. Stanley F. Barshay, who ran consumer health at Schering-Plough, will run that division for Merck — but he’ll do so “on an interim basis while the company searches for a permanent leader,” Merck said.‹