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Following the FDAs decision to decline approval of their allergic rhinitis, Schering-Plough and Merck & Co. are retracting their NDA. The companies are also ending their respiratory joint venture, resulting in a $105 million payment to Schering-Plough. The company will recognize this fee over the remaining three quarters of this fiscal year.
In May 2000, Schering-Plough and Merck formed this join…