NEW BRUNSWICK, N.J., May 27 /PRNewswire-FirstCall/ -- In an arbitration demand filed today with the American Arbitration Association, Johnson & Johnson has requested a ruling that the agreement and plan of merger between Merck & Co., Inc., and Schering-Plough Corporation constitutes a change of control that would permit the termination of the agreements between Schering-Plough and Johnson & Johnson's subsidiary Centocor Ortho Biotech Inc., regarding the product REMICADE(R) (infliximab), a well-established biologic product for inflammatory/immunological diseases, and SIMPONI(TM) (golimumab), a next-generation treatment. The termination of the agreements would return full rights to Johnson & Johnson for the distribution of these products in markets outside the United States where Schering-Plough currently has the rights to distribute these products.
"As its public statements have made clear, Merck is acquiring Schering-Plough," the company said. "The acquisition constitutes a change of control that triggers the right of our Centocor Ortho Biotech subsidiary to terminate the agreements."
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Johnson & Johnson
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