Merck & Co and Johnson & Johnson settle long-running battle over Remicade and Simponi marketing; J&J eyeing Swiss acquisition
US drug majors Merck & Co) and Johnson & Johnson (NYSE: JNJ) and its subsidiary Centocor Ortho Biotech Inc have reached finally agreement to amend the distribution rights to Remicade (infliximab) and follow-on drug Simponi (golimumab), which treat chronic inflammatory diseases such as rheumatoid arthritis.
This accord concludes the arbitration proceeding J&J initiated in May 2009, requesting a ruling related to the distribution agreement following the announcement of the proposed merger between Merck and Schering-Plough. The news was welcomed by the market, with Merck’s shares rising 3% to $34.95 and J&J up 1% to $60.62. The two drugs generated $2.8 billion in sales for Merck last year, and about $4.8 billion for J&J.
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