Rochester,NY 8/8/2009 11:43:52 PM
Merck & Co.Inc.MRK-huge tie-up between Merck and Schering-Plough-shareholders OK $41B deal
Merck & Co.Inc
Shareholders of Merck & Co. and Schering-Plough Corp. on Friday both overwhelmingly backed a huge tie-up of the New Jersey neighbors, and shares of both companies jumped.
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The acquisition of smaller Schering-Plough allows Merck, the world's eighth-biggest drugmaker by prescription medicine sales, to leap to No. 2 worldwide, just behind Pfizer Inc. The new Merck will have about $42.4 billion in annual sales.
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