NU Online News Service, Aug. 1, 12:53 p.m. – Merck Inc., Whitehorse Junction, N.J., has temporarily withdrawn plans for an initial public offering for its Medco Health Solutions Inc. subsidiary "due solely to market conditions," the company said yesterday in a document filed with the U.S. Securities and Exchange Commission.
"Merck remains fully committed to the establishment of Medco Health as a separate, publicly traded company and intends to complete the separation within 12 months, subject to market conditions," the company said.
Medco, based in Franklin Lakes, N.J., is a major pharmacy benefits manager and also the operator of a major mail-order pharmacy.
