The 'Fred Factor': The Saga of a Turnaround Specialist

ICMR HOME | Case Studies Collection

Case Details:

Case Code : LDEN066
Case Length : 17 Pages
Period : 1995-2009
Pub Date : 2010
Teaching Note : Available
Organization : -
Industry : Pharmaceuticals
Countries : US; Global

To download The 'Fred Factor': The Saga of a Turnaround Specialist case study (Case Code: LDEN066) click on the button below, and select the case from the list of available cases:

Price:

For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Shipping & Handling Charges extra

» Leadership and Entrepreneurship Case Studies
» Short Case Studies
» View Detailed Pricing Info
» How To Order This Case
» Business Case Studies
» Case Studies by Area
» Case Studies by Industry
» Case Studies by Company

Custom Search

Please note:

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.

Chat with us

Please leave your feedback

<< Previous

"If somebody gives you an opportunity to be a public company CEO, that's a very interesting challenge and also to be looking at a company that's in deep trouble, that's even more exciting. So I've had this tendency to take on challenges and I don't understand why I want this punishment again and again, but I (laughter) do."¹

- Fred Hassan, Chairman and CEO of Schering-Plough Corporation, in 2008.

"He[Fred Hassan] has come in and done a spectacular job in stabilizing what was a hemorrhaging company and then moving into a growth mode. I would say that he was the right man, because he's done the job."²

- Barbara Ryan, a pharmaceuticals analyst from Deutsche Bank³ North America, in 2006.

The Turnaround King of the Pharmaceutical Industry

On November 3, 2009 global pharmaceutical giant Merck & Co., Inc.⁴ (Merck) completed its merger with US-based global healthcare company Schering-Plough Corporation (SP), in a stock and cash transaction worth US$ 41.1 billion. Under the reverse merger agreement, Merck the larger of the two, was acquired by SP although the combined company was renamed 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 Chairman and CEO of SP, Fred Hassan (Hassan) participated in integration planning until the completion of the merger.

Leadership and Entrepreneurship Case Studies | Case Study in Management, Operations, Strategies, Leadership and Entrepreneurship, Case Studies

The 'Fred Factor': The Saga of a Turnaround Specialist - Next Page>>

1] "The Prognosis for Health Care: Is the Industry Alive and Well?" CEO_Exchange_Transcript.pdf, April 24, 2006.
2] "A Turnaround Artist does it Again," www.sptimes.com, September 21, 2006.
3] Headquartered in Frankfurt, Germany, Deutsche Bank AG is a leading global investment bank with a presence in over 70 countries.
4] Established in 1891, Merck & Co., Inc. is a US-based global pharmaceutical company which develops manufactures and markets medicines and vaccines. For the year ended 2008, the company reported revenues of US$ 23.9 billion.

Custom Search


Leadership and Change Management Textbook Textbooks Collection	Scams and Scandals Case Volume Work Book - Rs. 750 Case Study Volumes Collection	Leadership in Practice Case Volume Case Study Volumes Collection