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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Excerpts Contd...
Results
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According to experts, after Hassan took charge at SP, the company witnessed a remarkable recovery in its performance. In 2005, the revenue and operating profit of SP increased in all its three divisions - prescription drugs, consumer and animal health and that year the company reported its first profit in three years which was about US$ 269 million (Refer to Exhibit IV for the stock price chart of SP)...
Merger with Merck
After turning around the company successfully, Hassan wanted to develop a strong pipeline of drugs in order to capture a major share in the pharmaceutical market. To cover up SP's late-stage drug pipeline gap, the company planned to acquire a smaller pharmaceutical company...
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Outlook
In September 2009, Merck filed papers with regulators in the European Union seeking approval of its planned acquisition of SP. In November 2009, the deal was approved by shareholders from the companies, the US federal government and regulatory authorities in the European Union...
Exhibits
Exhibit I: Timeline of Schering-Plough Corporation
Exhibit II: Products of Schering-Plough Corporation
Exhibit III: Profile of Fred Hassan
Exhibit IV: Stock price chart of Schering-Plough Corporation
Exhibit V: Income Statement of Schering-Plough Corporation
Exhibit VI: Schering-Plough Corporation- Balance Sheet (2003-2008)
Exhibit VII: Net Sales of Schering-Plough Corporation
Exhibit VIII: Top Ten Pharmaceutical Companies after Mergers
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