AstraZeneca Exercises Option to Acquire Merck's Interest in Partnership Products

Record Date: 9/8/2010
Company: Merck & Co

WHITEHOUSE STATION, N.J., March 1, 2010 – Merck & Co., Inc. announced today that it has been advised by AstraZeneca PLC that it will exercise the option to obtain Merck's interest in AstraZeneca's non-proton pump inhibitor (non-PPI) products this year. Those products are Atacand™, Lexxel™, Plendil™ and Entocort™ plus certain products currently in clinical development. In April, Merck will receive a payment of $647 million which represents the net present value as of March 31, 2008 for the company's share of the projected pretax revenue for the non-PPI products.

As a result of this decision, AstraZeneca will have an option to acquire Merck's interest in the PPI products, including Nexium™, in 2012, or later, under certain circumstances.