Turnaround of Schering-Plough Corporation
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Case Details:
Case Code : BSTR365
Case Length : 28 Pages
Period : 2001-2009
Pub Date : 2010
Teaching Note :Not Available
Organization : Schering-Plough Corporation
Industry : Pharmaceuticals
Countries : USA, Global
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction Contd...
Under the reverse merger agreement, Merck though the larger of the two, was acquired by SP and the combined company was renamed as Merck (new Merck). As per the deal, Merck shareholders owned approximately 68% of the combined company while the rest was owned by shareholders of SP.
Chairman, President and CEO of Merck, Richard T. Clark (Clark) became the head of the merged company while the CEO of SP, Fred Hassan (Hassan) participated in integration planning until the completion of the merger.
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On completion of the merger, Clark said, "With our merger now complete, we are ready to deliver on the promise of a new Merck built on a foundation of scientific innovation and dedication to the well-being of patients around the world. On
'Day One' for the new Merck, we are stronger and better equipped to make a difference in the lives of people globally through our broadened, diversified portfolio of innovative medicines and vaccines, and products for consumer and animal health.
The combination of the considerable talents of Schering-Plough and Merck
employees across the globe positions Merck to move through this dynamic time for
our industry with a clear vision for the future."5...
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