Merck To Spin Out A New Company, Following Industry's Downsizing Trend
Merck will spinout its mature franchises, including women's health products, into a new company that will have about $6bn-$6.5bn in 2021 revenues and be poised for modest growth.
You may also be interested in...
Merck & Co. plans to spin off Organon in June as a diversified health care company focused on women's health, biosimilars and established products.
Public Company Edition: Mergers with special purpose acquisition corporations may be heating up, but in addition to the Surrozen and Tango SPAC deals Recursion and Biomea launched initial public offerings. Also, Organon sells $5.6bn worth of notes to fund spinout from Merck & Co.
Merck & Co.'s CFO Robert Davis will succeed Ken Frazier as CEO. Frazier was one of the architects of the Schering-Plough acquisition, which shaped the pharma for the next decade and delivered its top-selling drug, Keytruda.