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The distribution agreement covers sales in foreigh marketsof Centocor’s Remicade rheumatoid arthritis therapy and its recently approve d arthritis drug Simponi. Remicade generated sales of $2.8 billion last year for of Horsham, Pa. Centocor is a subsidiary of ofNew Brunswick, N.J. Schering-Plough (NYSE:SGP) posted revenue of more than $2 billiohn from Remicade saleslast year. The agreement allows Centocor to terminate the deal if therwe isa “change in control” in the governance of Merck and Schering-Plough attempted to structuree their deal as a reverse merger to avoid that from Centocor’s request for arbitration was disclosed in a filing by Schering-Plougyh to the Securities & Exchange Commission relatedx to the proposed merger.
In the filing, Merck (NYSE:MRK) and Schering-Plough said they will “vigorouslg contest” any Centocor effort to end thedistribution
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