Navigation Links
Schering-Plough CEO to Buy $2 Million in Common Shares
Date:1/18/2008

KENILWORTH, N.J., Jan. 18 /PRNewswire-FirstCall/ -- Schering-Plough Corporation announced this morning that Chairman and CEO Fred Hassan intends to make an open market purchase of $2 million of Schering-Plough Common Shares with personal funds.

"As was the case in November 2003 when I purchased $4.68 million in Schering-Plough Common Shares at an average price of $15.42 (2003 press release below), this investment in Schering-Plough reflects my long-term confidence in the company, its products (including ZETIA and VYTORIN), and our late-stage pipeline," said Hassan. "The media interpretations of the top-line ENHANCE trial results, and the resulting stock price reaction, have been deeply troubling. I firmly believe in VYTORIN and ZETIA. Further, I believe this company is now a strong and diverse global competitor, with sound long- term fundamentals, that is capable of driving long-term growth. Our mission is 'To earn trust, every day,' and this personal stock purchase reflects my faith that, together, our 50,000 dedicated Schering-Plough employees can accomplish that mission."

Hassan had wanted to purchase the stock yesterday, when the stock closed at $21.62. However, it was determined that, under the federal securities laws, it would be better to defer the purchase until earnings for the fourth quarter and the full year 2007 are announced, scheduled for Feb. 12, 2008, and the full results of the ENHANCE trial are discussed in a scientific forum, anticipated for the American College of Cardiology meeting in late March. Hassan committed that the purchase will then be completed, whatever the stock price at that time. "I had already made a significant personal investment in Schering-Plough in 2003, and I believe that adding another $2 million to this personal investment is the right thing to do."

BELOW: 2003 PRESS RELEASE ON CEO STOCK PURCHASE

SCHERING-PLOUGH CEO BUYS $4.68 MILLION OF COMPANY COMMON STOCK

KENILWORTH, N.J., Nov. 28, 2003 -- Schering-Plough Corporation (NYSE: SGP) today announced that Fred Hassan, chairman and chief executive officer, purchased $4.68 million worth of Schering-Plough common stock, representing 303,500 shares.

Hassan had previously expressed his intention to acquire shares of the company, as reported in Investor Frequently Asked Questions (FAQs) filed with an 8-K/A with the U.S. Securities and Exchange Commission on Aug. 13, 2003.

"This investment in Schering-Plough reflects my long-term confidence in the company," said Hassan. He noted that within a few months of joining Pharmacia & Upjohn in 1997 he had purchased an amount of that company's common shares. Hassan joined Schering-Plough in April 2003.

"As we said at last week's meeting with analysts and investors, there are still significant challenges facing Schering-Plough, but I firmly believe this company can be turned around and become a highly competitive global organization that should be capable of producing long-term growth," said Hassan.

DISCLOSURE NOTICE: This press release may contain "forward-looking statements" about the company's business or prospects. Many factors could cause actual results to differ from the forward-looking statements. The company does not assume any obligation to update any forward-looking statement. For further details and a discussion of risks and uncertainties that may affect forward-looking statements, see the company's current and future Securities and Exchange Commission (SEC) filings, including the third quarter 2003 10-Q.

Schering-Plough is a research-based company engaged in the discovery, development, manufacturing and marketing of pharmaceutical products worldwide.

# # #

ABOUT SCHERING-PLOUGH

Schering-Plough is an innovation-driven, science-centered global health care company. Through its own biopharmaceutical research and collaborations with partners, Schering-Plough creates therapies that help save and improve lives around the world. The company applies its research-and-development platform to human prescription and consumer products as well as to animal health products. In November 2007, Schering-Plough acquired Organon BioSciences, with its Organon human health and Intervet animal health businesses, marking a pivotal step in the company's ongoing transformation. Schering-Plough's vision is to "Earn Trust, Every Day" with the doctors, patients, customers and other stakeholders served by its approximately 50,000 people around the world. The company is based in Kenilworth, N.J., and its Web site is http://www.schering-plough.com.


'/>"/>
SOURCE Schering-Plough Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
2. Schering-Plough Schedules Conference Call and Webcast for 2007 Third Quarter Earnings
3. Schering-Plough Reports Financial Results for Third Quarter of 2007
4. Schering-Plough CEO Calls for Four-Pronged Approach to Improving Current Health Care Environment
5. Schering-Plough Reports U.S. District Court for District of Massachusetts Finds No Liability for Subsidiary in AWP Case
6. Schering-Plough to Webcast CFO Robert J. Bertolinis Presentation at 2007 Credit Suisse Health Care Conference
7. Schering-Plough Receives Clearance From U.S. Federal Trade Commission for Planned Acquisition of Organon Biosciences N.V.
8. Schering-Plough Declares Quarterly Dividends on Common Shares and 2007 Mandatory Convertible Preferred Stock
9. Centocor, Schering-Plough Revise Agreement Covering REMICADE, Golimumab
10. Schering-Plough Board Elects Dr. Craig B. Thompson as a Director
11. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... (PRWEB) , ... December 02, 2016 , ... On Dec. ... the Hard Rock Hotel San Diego honoring the 2016 MPN Heroes—eight individuals who have ... (MPNs) by going above and beyond the standard of care, demonstrating leadership within the ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... the launch of its 60-day free trial program for all of the company’s ... the offer a truly hassle free experience. , FlexiSpot’s unique desktop risers use ...
(Date:12/2/2016)... ... December 02, 2016 , ... With the number of ... of an injury, patients must find the one that works for them. When an ... created a machine that worked and decided to share it with others. , He ...
(Date:12/2/2016)... ... 02, 2016 , ... Mediaplanet is proud to announce the ... the innovative treatments, therapeutic technologies, and revolutionized nutrition that are helping patients and ... 6 years in the last 3 decades,” says Dr. Valentine Fuster, a world-renowned ...
(Date:12/2/2016)... ... December 02, 2016 , ... Sourced from the Isbre Springs beneath the ... its unmatched natural purity of just 6 ppm TDS (Total Dissolved Solids) in addition ... has been available in several ShopRite and FoodTown stores in NJ and received rave ...
Breaking Medicine News(10 mins):
(Date:11/30/2016)... Research and Markets has announced the addition of the ... report to their offering. ... , The cerebrospinal fluid (CSF) acts ... it is circulated though the brain and its ventricles, the spine and ... surrounding the brain changes significantly. As a result, ...
(Date:11/30/2016)... Research and Markets has announced the addition ... report to their offering. ... , Detachable coil embolization is a ... The detachable coil embolization treatment of cerebral aneurysms is less invasive and ... area in the wall of an artery in the brain. This area ...
(Date:11/30/2016)... Calif. , Nov. 30, 2016 Varian ... it was named America,s Most JUST Company in the ... and Forbes magazine,s inaugural "JUST 100 List." ... of the largest surveys ever conducted on attitudes towards ... months. This inaugural list ranks U.S companies against their ...
Breaking Medicine Technology: