Schering-Plough said Monday it will buy Organon BioSciences N.V., the human and animal health care businesses of Akzo Nobel N.V., for about $14.4 billion.
The transaction is expected to be completed by the end of 2007.
According to Fred Hassan, chairman and CEO of Schering-Plough, the acquisition will increase the company's presence in the primary care market, giving them immediate access to central nervous system (CNS) and women's health care products.
The acquisition of Organon BioSciences will also enhance Schering-Plough's strength in human and animal biologic products, including the potential to develop human vaccines and become a major animal health care company, said Hassan.
Organon BioSciences' pharmaceutical business, Organon, had sales of $3.4 billion in 2006, including products such as Follistim/Puregon, a follicle-stimulating hormone for infertility; Esmeron/Zemuron, a muscle relaxant; and NuvaRing and Implanon for contraception.
The animal health business, Intervet, with sales of about $1.5 billion in 2006, is one of the top three animal health care companies globally.
Organon's research and manufacturing facility in Oss, the Netherlands, will be the center of Schering-Plough's global gynecology and fertility activities, while Organon's neuroscience research will continue in Newhouse, Scotland.