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Cases

Merck & Co., Inc./Schering-Plough Corporation Merger Litigation

Gardy & Notis, LLP has been appointed by the Court as lead counsel for shareholders of Merck & Co., Inc. challenging Merck's acquisition of Schering-Plough Corporation through a reverse merger based on the on the incomplete and inadequate disclosure in the proxy materials regarding Schering-Plough's joint venture with Johnson & Johnson's Centocor, Inc. subsidiary to market Remicade for the treatment of arthritis, along with golimumab, an experimental successor to Remicade now marketed under the trade name Simponi. According to Schering-Plough's SEC filings, Remicade is Schering-Plough's second-largest marketed pharmaceutical product line," second only to its joint venture with Merck for the development and marketing of Vytorin, which combines Schering-Plough's Zetia cholesterol-absorption inhibitor and Merck's Zocor statin. Remicade is also Johnson & Johnson's top selling drug, with $3.75 billion in sales in 2008. The Centocor joint venture permits various rights to Johnson & Johnson with respect to a change in control at Schering-Plough, including certain rights to terminate the joint venture and obtain exclusive rights to market Remicade and golimumab.

The case is In re Merck & Co., Inc. Shareholders Litigation, Consolidated Docket No. HNT-C-14008-09, New Jersey Superior Court, Chancery Division, Hunterdon County.

For more information regarding the lawsuit or to obtain a copy of the complaint or any Court filings, please contact us.
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