Reportedly, Merck & Co., Inc. (MRK) has completed the spinoff of Organon & Co. The spinoff aims to create two patient-focused companies with an enhanced strategic and operational focus, simplified operating models, improved agility, improved financial profiles, and optimized capital structures.
“Today marks a significant milestone for both Merck and Organon. Organon is now an independent, publicly traded company with a broad portfolio of important medicines and products, and is fully prepared to deliver sustainable growth and value. With leadership in our growth pillars and our robust pipeline, Merck is well positioned for strong long-term growth, with scientific innovation remaining the source of our value creation,” stated Rob Davis, president, Merck.
The transaction is expected to deliver benefits for both Merck and Organon and create value for Merck shareholders. Fractional shares of Organon common stock for the distribution were not issued, instead, the holders of Merck common shares received cash instead of any fractional shares of Organon common stock. Shares of Organon will be listed under the New York Stock Exchange under the symbol “OGN”. Shares of Merck will continue to trade under the symbol “MRK”.
Merck & Co., Inc. (MRK) is a global healthcare solutions provider that has been working towards bringing forward medicine and vaccines for some of the world’s most challenging diseases for more than a century. They are committed to increasing health care access and continue to be at the leading edge of research. Merck has the industry’s largest immuno-oncology clinical research program. To learn more about Merck (MRK) and to track its ongoing progress please visit the Vista Partners Merck Coverage Page.
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