Merck and Inspire Announce Expiration of Hart-Scott-Rodino Act Waiting Period Relating to Tender Offer for Shares of Inspire (ISPH, MRK)

Merck MRK, known as MSD outside the United States and Canada, and Inspire Pharmaceuticals, Inc. ISPH today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended has expired in connection with the previously announced cash tender offer made by Monarch Transaction Corp., a wholly owned subsidiary of Merck, to purchase all of the outstanding shares of common stock of Inspire. As previously announced on April 15, 2011, Merck commenced, through Monarch Transaction Corp., its tender offer for all outstanding shares of Inspire for $5.00 per share in cash without interest and less any applicable withholding taxes. The tender offer is being made pursuant to an offer to purchase and related letter of transmittal, each dated April 15, 2011, and an Agreement and Plan of Merger, dated as of April 5, 2011, by and among Merck, Monarch Transaction Corp. and Inspire.