Jobs under threat as Schering-Plough reorganises
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US drugmaker Schering-Plough is to reduce the number of production sites and cut their R & D spending in a bid to make savings in the amount of 1.5 billion dollars by 2012. Catalyzing the announcement of the destruction report was written by a group of cardiologists different, as doubts about the effectiveness of the anti-cholesterol drug Vytorin, a combination of products based on the company has already marketed Zetia (ezetimibe ), and Merck & Co’s Zocor (simvastatin). Schering-Plough has lost 29 percent of shares within three days of receipt of notification. The conclusion by the cardiologist Vytorin was no better as the fight against atherosclerosis, its own Zocor was a shock for both Merck and Schering-Plough, work as a joint venture Vytorin. The role played in this reorganization is not known, but in a press release from Fred Hassan, Schering CEO, complained, “the lack of an open and balanced scientific Diskussion”über results of extension of the test period. Analysts Dresdner Kleinwort are convinced of the link. In a research note released this morning, they said: “This is in response to recent studies on the negative impact Vytorin. Our last note of the review of number of employees, Schering-Plough could even go further , over a period of three years. ” “We are confident that other companies, and must be reduced proactively rather than reactively now face a return of the strike,” added she added. In a conference call with analysts said Hassan, the loss of jobs might be high on the company’s management aims at the elimination of management layers. He added: “savings and productivity gains achieved in society and throughout the world. No. field of exclusion.” The magnitude of the cut in the back of the production, R & D or in another sector, are not yet known, Hassan said that the terms of the reorganization are not yet finished. The decline in R & D focuses resources on a larger number of potential projects such as phase III trials-thrombin receptor antagonist (TRA), cardiovascular, Compound SCH 530348th Similarly, the cost reduction measures for the year was Schering-Plough in 2003, when an early retirement plan designed to eliminate more than 1000 employees of payroll and salaries list has been drawn up as part of the Patent expiration of the former Blockbuster antihistamine Claritin (loratadine), and a $ 500 million $ fine by the American government. More recently, in November 2007, to a savings plan of $ 500 million was taken for granted Schering Organon BioSciences, and in June 2006, has eliminated 1,100 jobs in manufacturing. Whatever the success of the restructuring of Schering-Plough have more problems are expected. The storm on Vytorin is also in the future with Steven Nissen, director of cardiology for the Cleveland Clinic in Ohio, cardiologists and other critics Schering-Plough for its failure in the final study years after Vytorin was on the market. More worrying for Schering-Plough strengthening of the study, finance and Merck and contributed to the design, did nothing for the reputation of Vytorin and help them to a greater proportion of world consumption of cholesterol $ 35bn market. Even the United States Congress is now considered whether Merck and Schering-Plough is trying to change the design of the study and to hide their results then deliberately delayed the release of results. Vytorin is a flagship product of Schering-Plough markets and has been strongly with $ 140ma years past on one aspect of the campaign. There has been impressive growth since the introduction in 2004 of Schering-Plough of communication for the financial year 2006 indicates that revenue from the equity of the joint venture was $ 1.5 billion. The result of Vytorin account for about two thirds of Schering-Plough fundraiser as such, and the fate of the reorganization and society as a whole will depend on his fortune. |