Hints and tips:
...Fred Hassan, the former chief executive of Schering Plough, recently joined the board of Amgen, the investor pointed out....
...In 2010, Warburg Pincus appointed one of its managing directors, Fred Hassan, the former chief executive of drugmaker Schering Plough, as chairman of Bausch & Lomb, and Brent Saunders, also a former Schering-Plough...
...The Genentech deal, combined with the “megamergers” in the same year of Pfizer’s $68bn purchase of Wyeth and Merck’s of Schering-Plough for $41bn, was a recent high water mark in dealmaking in the healthcare...
...Jeff Stute, currently co-head of North American M&A, will become head of the North America healthcare group, while Robbie Huffines, who advised Merck on its acquisition of Schering Plough and is working...
...J&J said arbitration hearings in a dispute over its rheumatoid arthritis drug Remicade triggered by Merck’s takeover of its partner Schering Plough last year had already been completed, and a decision could...
...On Thursday Merck took a $1.7bn charge related to lower expectations for Vorapaxar, which it obtained as part of its $41bn merger with Schering-Plough in 2009, after setbacks in certain clinical trials....
...In the US, Merck has announced plans to cut 15 per cent of the workforce, or 15,000 jobs, by 2012 in restructuring after buying Schering-Plough....
...He takes over at a delicate time for the company. In 2009, Merck completed a $41bn purchase of rival Schering-Plough which must still be integrated....
...So too product overlap....
...It marks efforts by both large pharmaceutical groups to diversify risk and activities away from pure human patented medicines into broader healthcare products....
...Last year, it helped fill holes in its own pipeline with the purchase of Schering-Plough....
...Such factors have accelerated consolidation in the pharmaceutical sector, notably with the takeovers last year of Wyeth by Pfizer and Schering-Plough by Merck of the US (with which its older German namesake...
...GSK created ViiV Healthcare, a joint venture with Pfizer, for its HIV products....
...Creation of the centre signals a new tactic by Merck, which is acquiring its US rival Schering-Plough and seeking to establish a fresh image as a global healthcare company with a commitment to corporate...
...“The changes in the macro-environment have transformed everything,” said Fred Hassan, head of Schering-Plough, earlier this year when explaining his agreement to the takeover by Merck....
...Fred Hassan, the veteran Pakistan-born pharmaceuticals executive who most recently ran Schering-Plough until its sale to Merck last year, says: “When I started, you only talked about the markets of the US...
...Jacynthe Côté, Rio Tinto Alcan CEOSince 2009, previously Alcan Primary Metals from 2007 Carrie Cox, Schering-Plough Global Pharmaceuticals President and EVP Betty Deng, Deutsche Bank China, Chief country...
...This could also include in our view Wyeth’s consumer healthcare business or Schering Plough’s consumer health care business....
...For example, Merck’s tie- up with Schering-Plough is funded by cash, debt and shares, giving Schering-Plough shareholders 0.5767 Merck shares and $10.50 in cash for each share in Schering-Plough....
...Fred Hassan, head of Schering-Plough, which recently agreed a $48bn takeover by Merck, says: “We were in line with our strategic plan and doing well with good growth, but the changes in the macro-environment...
...Through Schering-Plough, Merck has done the same. With Wyeth, Pfizer has boosted its access to vaccines, a fast-growing niche....
...The move produced Monday’s $41bn deal to buy Schering-Plough....
...That debate may look lopsided in the short term, given the $68bn Pfizer acquisition of Wyeth announced in January, the $41bn agreed takeover of Schering-Plough by Merck unveiled on Monday, and talks between...
...That helps explain why in the past few weeks Pfizer has acquired Wyeth and Merck has taken over Schering-Plough....
..., president and CEOSince 2006, previously Alcan Packaging president and CEO Carrie Cox, Schering-Plough Global Pharmaceuticals president and EVP Deidre Connelly, GSK North American Pharmaceuticals presidentSince...
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