Schering-Plough products ‘face increasing competition’

Schering-Plough has published an outline of possible areas of discussion in its upcoming webcast presentation and questions-and-answer sessions at the Morgan Stanley Pharmaceutical CEOs Unplugged conference on January 3rd 2008, with the firm exploring a range of issues related to its compound.

The company will inform viewers that while expecting an increase in competition for its key products, it remains confident in their status and will continue to invest in these drugs to maintain their market position.

Furthermore, the firm has projected growing sales of Vytorin and Zeita over the next year and continued progress in its drug development pipeline, with an increased number of participants in its clinical trials.

The presentation will be given by chairman and chief executive officer of Schering-Plough, Fred Hassan.

“Included in Mr Hassan’s comments will be Schering-Plough’s strategic evolution and the acquisition of Organon BioSciences (OBS),” the company reports.

“During the conference he may confirm that the company is still targeting the same accretion and synergy targets mentioned when the OBS acquisition was announced March 12th 2007.”

These targets include an increase in earnings-per-share of approximately ten cents in the first full year and annual synergies of around $500 million (250 million pounds).

Schering-Plough completed its purchase of OBS from Akzo Nobel for a total sum of 11 billion euros (7.8 million pounds).