Merck & Co. Inc. (MRK) announced that it has been advised by AstraZeneca (AZN,AZN.L) that it would exercise the option to obtain Merck's interest in AstraZeneca's non-proton pump inhibitor or non-PPI products in 2010. The products are Atacand, Lexxel, Plendil and Entocort plus certain products currently in clinical development. Further, Merck noted that it would receive a payment of $647 million in April, 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. Hence, AstraZeneca would have an option to acquire Merck's interest in the PPI products, including Nexium, in 2012, or later, under certain circumstances.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org