Corporate Counsel, Access to the entire ALM network of websites, Unlimited access to the ALM suite of newsletters, Build custom alerts on any search topic of your choosing. Merck said the spinoff of women's medicines such as the Nexplanon birth control implant, older drugs including cholesterol treatments Zetia and Vytorin, and three biosimilars, or near-copies of expensive biologic drugs, is expected to be completed in the first half of 2021. Here's what to expect from Merck's spinoff, according to its new CEO. General Counsel Summit is the premier event for in-house counsel, hosting esteemed legal minds from all sectors of the economy. Cumulative Growth of a $10,000 Investment in Stock Advisor, Merck Announces a Big Planned Spinoff @themotleyfool #stocks $MRK, This Late-to-the-Party Coronavirus Vaccine Maker Could Be the Biggest Winner Over the Long Run, Merck Inks Multibillion-Dollar Deal With Seattle Genetics, Including Equity, Merck (Finally) Starts a Clinical Trial of its Coronavirus Vaccine, Senate Considers Bill to Block International Distribution of Coronavirus Vaccine, Copyright, Trademark and Patent Information. Your article was successfully shared with the contacts you provided. Turn on desktop notifications for breaking stories about interest? Jim bought his first stocks in 1967 with paper route money and has been invested in equities ever since. November 24, 2020 - November 25, 2020 Site Map / Sponsored By : Netgain Technology completed the spinoff of Medco Health Solutions , its pharmacy benefits division, to its stockholders on Wednesday. During the quarter, Merck received its 23rd approval for Keytruda in treating different cancer types and patient groups, this time in a type of bladder cancer. var myDate = new Date(parseInt(1598985547000)); The spinoff is slated to be completed in the first half of 2021. var pday = moment(myDate).format("MMMM DD, YYYY"); BORTECK & CZAPEK P.C.takes pleasure in announcing that DOUGLAS A. BEIMFOHR has become a Partner of our firm. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. document.addEventListener('DOMContentLoaded', function() { July 23, 2020. October 12, 2020, "I don’t have to worry today, for example, whether people think because I settled with Apple that we’re a pushover. The drugmaker on Wednesday, Feb. 5, 2020 reported net income of $2.36 billion, up from $1.83 billion, a year earlier. NewCo will have strong cash flows and growth opportunities in biosimilars, contraceptives, and fertility, as well as through the development of sales in foreign markets. Contact Us / Dan covers cyber security, legal operations and intellectual property for Corporate Counsel. The maneuver culminates a steady shift of Merck's business the past several years from a primary care drugmaker with more than 160 products, to a company which will have half as many, focused on its surging but young oncology business, and growing sales of its vaccine, hospital products and veterinary medicines. Our Team Account subscription service is for legal teams of four or more attorneys. “It's got great opportunity and they're intending to become a leader in women's health.". October 09, 2020. (AP Photo/Seth Wenig, File). Virtual. *May exclude premium content ", Phillip Bantz He's still learning, though, and enjoys studying and investing in a wide variety of businesses. This white paper explains the best way to keep your legal department nimble and on budget. Follow him on Twitter @Danclarkalm. Access Legal Compass to see gender breakdowns of partners, associates, and other key law firm personnel, including side-by-side comparisons. Market data powered by FactSet and Web Financial Group. Privacy Policy. Which Legal Departments are supporting the Mansfield Rule? | For the year, it posted a whopping $11.08 billion in sales, nearly 24% of total company sales. Net income on a non-GAAP basis was up 15% and its earnings per … Legal Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else. | | Merck expects to receive a tax-free payment of $8 billion to $9 billion from the new company ("NewCo") when the deal closes in the first half of 2021. Merck's stock closed Wednesday down $2.53, or 2.9%, at $85.83, while broader markets were all up. Get the timely legal news and critical analysis you cannot afford to miss. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. Chief Executive Kenneth Frazier said in an interview that the spinoff will ensure Merck & Co.'s long-term growth, while the new company will have strong cash flow to expand in women's health, which wasn't getting enough attention.

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