This was news to me today as they are doing a reverse merger closing 4th qtr 2009. Approved by both boards and announced today

http://www.merck.com/newsroom/press_releases/corporate/2009_0807.html

http://www.merck.com/newsroom/press_releases/corporate/2009_0309.html

"Approvals and Time to Close
The transaction is subject to approval by Merck and Schering-Plough shareholders and the satisfaction of customary closing conditions and regulatory approvals, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, as well as clearance by the European Commission under the EC Merger Regulation and certain other foreign jurisdictions. Merck and Schering-Plough expect to complete the transaction in the fourth quarter of 2009."

This should explain the startup of paramagnetic bead sales in late 2009.

Paragraph ahead says free cash flow to exceed $15 billion in 2013 ...

"Merck is targeting a high single digit non-GAAP EPS1 compound annual growth rate from 2009 (2009 base represents Merck's stand alone non-GAAP EPS guidance) to 2013. Additionally, in 2013, Merck is targeting pretax margins¹ to be nearly 40 percent and free cash flow to be approximately $15 billion."

That is some money machine we are hooked in with.