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Schering-Plough Buys Intervet

Schering-Plough Corporation has announced that its board of directors has approved the purchase of Organon BioSciences, N.V., the human and animal health care businesses

Schering-Plough Corporation has announced that its board of directors has approved the purchase of Organon BioSciences, N.V., the human and animal health care businesses of Nobel N.V. for about $11 billion in cash or about $14.4 billion based on closing exchange rates on March 9, 2007.

The purchase includes the assets of Intervet, with sales of about $1.5 billion in 2006, making Intervet one of the top three animal health care companies globally.