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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 13, 1997
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MERCK & CO., Inc.
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(Exact name of Registrant as specified in its charter)
New Jersey
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(State or other jurisdiction of incorporation)
1-3305 22-1109110
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(Commission File Number) (I.R.S Employer Identification No.)
One Merck Drive, PO Box 100, Whitehouse Station, NJ 08889-0100
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (908)423-1000
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Item 5. Other Events
Incorporated by reference is a press release issued by the Registrant on May 13,
1997, attached as Exhibit 99, concerning the Registrant's announcement of the
signing of a definitive agreement for the sale of its crop protection business
to Novartis for $910 million.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 Press release issued Filed with
May 13, 1997 this document
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned hereunto duly authorized.
MERCK & CO., Inc.
Date: May 15, 1997 By: /s/ Dolores O. Rosinski
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DOLORES O. ROSINSKI
Senior Assistant Secretary
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EXHIBIT INDEX
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Exhibit
Number Description
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<S> <C>
99 Press release issued May 13, 1997
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Exhibit 99
FOR IMMEDIATE RELEASE
Contacts: John Doorley Laura Jordan Kathy Bloomgarden
Merck--Press Merck--Investor Relations Novartis (Ruder Finn)
(908) 423-4081 (908) 423-5185 (914) 235-3070
MERCK TO SELL ITS CROP PROTECTION BUSINESS TO NOVARTIS
Deal Valued at $910 Million
Whitehouse Station, N.J., May 13, 1997 -- Merck & Co., Inc. announced
today the signing of a definitive agreement for the sale of its crop protection
business to Novartis for $910 million. This divestiture by Merck, along with the
sale of its specialty chemicals businesses in recent years, is in keeping with
the Company's strategy of focusing exclusively on its core human and animal
health businesses.
Novartis will offer employment to virtually all Merck crop protection
employees.
Merck's decision to sell its crop protection business was announced in
December 1996 as part of the announcement that Merck and Rhone-Poulenc will
combine their animal health and poultry genetics businesses to form a new
company, called Merial, that will be the largest in the animal health and
poultry genetics industries. Since December, Merck's intention has been to
choose a buyer with a strategic interest in the crop protection industry, and
Novartis, the world leader in agribusiness, emerged as the successful bidder.
Merck believes that its highly profitable crop protection business, with
employees among the best in the industry, will prove to be an excellent
investment.
Merck's products provide crop protection for a wide range of crops
against mites, insects and fungi. Merck's crop protection products are
registered in more than 60 countries and have annual sales of approximately $200
million.
Novartis' 1996 agribusiness sales were $5.2 billion, 73% of which were
in crop protection. Novartis has the largest R&D budget in the crop protection
industry.
Closing of the transaction is expected this summer. It is subject to
antitrust approvals in the U.S. and several other countries.
-more-
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Merck & Co., Inc. is a leading research-driven pharmaceutical products
and services company. Merck discovers, develops, manufactures and markets a
broad range of innovative products to improve human and animal health.
Merck-Medco Managed Care, Inc. manages pharmacy benefits for approximately 50
million Americans, encouraging the appropriate use of medicines and providing
health management programs. Through these complementary capabilities, Merck
works to improve the quality of life and contain overall health-care costs.
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