Merck & Co., Inc. Says Has No Buyer for Dutch R&D Unit, Closure Looms

From M&A Navigator (February 16, 2011) -- US drug maker Merck (NYSE:MRK) said today it did not manage to find a buyer for its Dutch research and development (R&D) unit MSD Organon, which is threatened with closure.

In September last year, Merck said it would delay the planned closure of Organon’s Dutch R&D operations as it was considering various alternatives, including a divestment.

According to the US company, there were intensive talks with various interested parties, yet, they did not lead to a deal that would be in the best interest of all shareholders.

Reportedly, South African Aspen Pharmacare (JNB:APN), Japan’s Takeda (TYO:4502) and Dutch bioscience firm Pantarhei had submitted bids for parts of the unit.

Merck said Organon’s drugs and biologics business would remain a core part of the group.

Country: , Netherlands

Sector: Pharmaceuticals

Target: MSD Organon

Vendor: Merck & Co Inc

Type: Divestment