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Proventil

Merck & Co., Inc.

Drug Names(s): Albuterol, Salbutamol, Proventil HFA

Description: Proventil is a relatively selective beta2-adrenergic bronchodilator. Comes in a CFC (cholorfluorocarbon, which is being phased out due to environmental concerns) and HFA formulation. The HFA formulation uses a metered dose inhaler with the non-CFC propellant HFA-134a.

Deal Structure: 3M Pharmaceuticals/Drug Delivery Systems developed the CFC-free formulation using hydrofluoroalkane-134a (HFA-134a) as apropellant. On August 16, 1996, 3M and Schering-Plough announced that Proventil HFA will be supplied by 3M and marketed by Schering. Under the agreement, Schering-Plough will purchase finished product and pay royalties to 3M based on annual sales.

In March 2009, Merck & Co and Schering-Plough announced that their Boards of Directors have unanimously approved a definitive merger agreement under which Merck and Schering-Plough will combine, under the name Merck, in a stock and cash transaction. Under the terms of the agreement, Schering-Plough shareholders will receive 0.5767 shares and $10.50 in cash for each share of Schering-Plough. Each Merck share will automatically become a share of the combined company. The acquisition was completed in November 2009.


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