Healthcare Biz Cheat Sheet: Merck Chairman Stepping Down, Medco Acquisition Under Scrutiny
Merck (NYSE:MRK) Chairman Richard Clark will retire in December, with CEO Kenneth Frazier set to replace him. Clark has been with Merck since 1972, and has served as chairman of the board since 2007.
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Neptune Technologies (NASDAQ:NEPT) has filed a patent infringement suit against Aker Biomarine ASA, Schiff Nutrition International (NYSE:WNI), and a number of other firms, alleging that the companies are violating its recently issued omega-3 composition patent.
Celgene (NASDAQ:CELG) shares are trading lower today after the European Committee for Medicinal Products for Human Use recommended changes to the product label for Revlimid, saying it should provide more complete information on the risk of secondary cancers from using the drug, in the wake of new studies.
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More than 25 states are banding together to look at Express Scripts’ (NASDAQ:ESRX) proposed $22 billion purchase of Medco (NYSE:MHS). Though the states don’t have a direct say in the FTC’s decision, they can increase pressure on the commission to give it tougher scrutiny and they can provide evidence to be used in its review of the deal.