The 'Fred Factor': The Saga of a Turnaround Specialist
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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
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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...
Orchestrating the Mega-Deal
Within five years, Hassan had rescued SP from near collapse but its problems were far from over.
In January 2008, Vytorin, co-marketed by Merck and SP, came in for scrutiny when a clinical trail of the drug proved that it did not lower the risk of a heart attack more than a generic statin.
The study was published online in the New England Journal of Medicine. Due to the negative results of the study, there was a drastic fall in sales of Vytorin...
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Outlook
Having turned around SP and having initiated its merger with Merck, Hassan's reputation as the turnaround king in the pharmaceutical industry was strengthened. Though he faced challenges such as high investments in developing new drugs, the difficulty of getting USFDA approvals, and the loss of patented products to the generic market, he was able to bring SP's balance sheet back to good health...
Exhibits
Exhibit I: Profile of Fred Hassan
Exhibit II: Fred Hassan-Compensation for 2008 (in US Dollars)
Exhibit III: Pharmacia & Upjohn - Financial Summary (1995-99)
Exhibit IV: Pharmacia Corporation - Financial Summary (1999-2001)
Exhibit V: Schering-Plough Corporation- Balance Sheet (2003-2008)
Exhibit VI: Stock price chart of Schering-Plough Corporation
Exhibit VII: Top Ten Pharmaceutical Companies after Mergers
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