Schering-Plough ‘does not need to merge’

Schering-Plough has no need to enter into a merger, according to its chairman, Fred Hassan.

Speculation had been rife about the possibility of the company merging with Bristol-Myers Squibb, with some analysts pointing to a complementary product and pipeline fit. Other companies, such as Merck Sharp & Dohme and Johnson & Johnson have also been touted as potential suitors.

Mr Hassan, who was speaking at his appointment as president of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), is quoted by Bloomberg as saying: “We don’t need a merger, we’re doing fine by ourselves.”

However, he told Reuters that the company had at one point considered a merger with Bristol-Myers Squibb, although no more so than other pharmaceutical companies.

“[We] always have to look at the landscape and going forwards but it is not necessarily a priority for us,” stated Mr Hassan.

He succeeds Dr Daniel Vasella, the Novartis chairman and chief executive officer, who served as IFPMA president for the last two years.

Dr Vasella said that the federation had taken measures to make the pharmaceutical industry easier to for others understand during his tenure.