June Business Briefs

On May 28, 2014

Bayer to Acquire Merck’s Consumer Care Business

Bayer has agreed to acquire the consumer care business of Whitehouse Station-based Merck & Co., Inc., for $14.2 billion. 

“This acquisition marks a major milestone on our path towards global leadership in the attractive non-prescription medicines business,” explains Bayer CEO Dr. Marijn Dekkers.

Merck’s consumer care business includes brands such as Claritin™, Coppertone™ and Dr. Scholl’s™. Pro forma sales of the combined businesses in 2013 amounted to $7.4 billion, with Merck’s business contributing approximately $2.2 billion.

In a related transaction, Bayer has entered into a global co-development and co-commercialization agreement with Merck in the field of soluble guanylate cyclase (sGC) modulators, for which the company will make an up-front payment to Bayer of $1 billion, with substantial additional sales milestone payments.

 

HNMC Among First to Offer t-RFA Therapy

Teaneck-based Holy Name Medical Center (HNMC) is among the first in the nation to offer Targeted-Radiofrequency Ablation (t-RFA) therapy, an advanced procedure that provides rapid pain relief from metastasis spinal tumors in a single minimally invasive treatment. Samyadev Datta, MD, HNMC pain management specialist, recently performed the procedure.

“t-RFA is a tremendous advancement in the palliative care options we offer our patients,” Dr. Datta says. “This new targeted therapy provides rapid relief from the debilitating effects of spinal tumors in the vertebrae without interrupting a patient’s current cancer treatment schedule.”

Unlike other currently available treatment options, t-RFA employs the STAR™ Tumor Ablation System, which was developed specifically for the palliative treatment of metastasis vertebral body tumors. These tumors have historically been difficult to access and treat, given the unique anatomy of the spine.

 

Port Authority Program to Boost Auto Business at Port of NY and NJ

The Port Authority Board of Commissioners approves a targeted incentive program to boost auto business at the Port of New York and New Jersey. The five-year program is designed to attract new automotive manufacturers and to provide incentives to existing ones to increase automobile volumes through the port.

Under the program, manufacturers that are new to the harbor will receive a discount worth 50 percent of the charge to use the Port Authority’s wharves for every eligible vehicle – defined as an individual automobile or truck – that they import or export through the port during the first year they participate in the incentive program.

Existing manufacturers can also participate in the program and would receive a financial incentive for all eligible vehicles that exceed the automotive manufacturer’s 2013 volume of eligible vehicles shipped through the port by more than 3 percent, the baseline growth rate the port has projected.

 

NJ Shows Support to Startups & Small Business Communities

New Jersey Lt. Governor Kim Guadagno recently received a sneak peek at what it takes to launch a startup from scratch when she attended one of the weekly workshops at TechLaunch, New Jersey’s premier technology accelerator.

Each Tuesday, TechLaunch holds a professional workshop for its Class of Founders which addresses a key topic integral in building a business from the ground up.

“We applaud the efforts of TechLaunch. In addition to providing seed money, this small business accelerator offers critical support through mentoring and business training,” said Lt. Governor Guadagno. “These services create a strong foundation to help young companies build their businesses, succeed and create jobs. The Christie Administration supports the work of TechLaunch as it cultivates some of our brightest and most promising entrepreneurs.”

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