Schering-Plough's acquisition of Organon approved by FTC

By Lisa Kerner

Charlotte, N.C., Nov. 16 - The Federal Trade Commission granted antitrust clearance in Schering-Plough Corp.'s planned acquisition of Organon BioSciences NV from Akzo Nobel NV in a deal first announced in March.

The European Commission approved the transaction on Oct. 11.

In connection with the clearance, Schering-Plough and Intervet, Organon's animal health business, will divest three poultry vaccines in the United States, a company news release stated.

It was previously reported that the acquisition is valued at some $14.4 billion and is expected to close by the end of 2007.

Schering-Plough is a science-based health-care company based in Kenilworth, N.J.

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