Merck/Medco Merger Threatened In Court
A California pharmacy has brought a lawsuit that seeks to void under antitrust laws merck & Co's 1993 merger with Medco. If successful, similar mergers could be threatened, say analysts.
The possible ramifications of the suit are being taken seriously by Merck, which held out a huge cash offer to try to settle the suit, says the group funding the case. Analyst Robert Gilbert at Panmure Gordon feels the offer could mean that Merck was worried that the plaintiff may win, if the case does go to court. Litigation, including appeals, could take years, but an early plaintiff win could be a significant step toward reversing what has become a major industry trend in the US market in recent years, he said.
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