Financial Times FT.com

J&J seeks benefits from Schering takeover

By Julie MacIntosh in New York

Published: March 28 2009 00:52 | Last updated: March 28 2009 00:52

Johnson & Johnson is preparing a push to extract concessions from Schering-Plough in exchange for allowing Merck’s planned $46bn takeover of Schering to move forward without a messier fight, dealmakers say.

J&J and Schering are partners in marketing two lucrative arthritis drugs, which Schering has the rights to sell outside the US. Merck and Schering say their merger is structured in a way that will not terminate that partnership agreement, which could give J&J a chance to control the drugs outright.

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