NEW YORK (AP) -- Moody's Investors Service on Monday revised its outlook on Merck and Co. to "Negative" from "Stable" after the drugmaker agreed to buy rival Schering-Plough Corp. for $41.1 billion.Moody's also said it may raise its outlook on Schering-Plough. The service maintained an investment grade "Aa3" long-term rating on Merck's debt. It rates Schering-Plough's debt "Baa1," which is investment grade, but only two notches above "junk" status.
Merck said Monday it will buy Schering-Plough in a cash and stock deal that will bring Merck's pills and vaccines together with a larger portfolio of biologic drugs.
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