Schering-Plough and Merck withdrew the NDA for the Claritin (loratadine)/Singulair (montelukast) combination tablet. The companies also terminated the their respiratory joint venture formed in May 2000. The FDA issued a not-approvable letter in April for the proposed fixed-dose combination of the two drugs. This decision does not impact the companies’ cholesterol joint venture.    
   
As a result of the termination, Schering-Plough expects to receive payments totaling $105 million from Merck per the joint venture agreements, which Schering-Plough will recognize over the remaining three quarters of 2008.