MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'fred hassan'. Sat, 03 Sep 2011 02:50:02 +0100 http://www.medworm.com/index.php?rid=4747885&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2F-f7KG02PNKo%2F Battles between animal-rights groups and drugmakers is nothing new, but the latest spat between the People for the Ethical Treatment of Animals, or PETA, and Merck has a couple of interesting twists. To be specific, PETA late last week filed a lawsuit against Merck for refusing to include a shareholder proposal that would require the drugmaker to disclose its use of animal testing in all research. Merck, however, refused to include the proposal in its proxy, prompting PETA to sue. This marks the first time that the animal-rights group has actually gone to court because a company denied a request to include a shareholder resolution in a proxy. But why exactly did Merck deny the proposal? The drugmaker contends PETA failed to prove shareholder status, even though PETA has owned Merck stock ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4747885 Mon, 25 Apr 2011 12:09:46 +0100 4747885 http://www.medworm.com/index.php?rid=4684757&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2F4DW4f4lkHe8%2F Whenever shareholders bemoan the fate of their investment in this or that drugmaker, invariably someone mentions that Fred Hassan should become ceo. Why? Fred has a brief, but if controversial track record of running companies and then selling to others. This happened when he ran Pharmacia, which was sold to Pfizer, and more recently with Schering-Plough, which is now part of Merck. But Fred is not the only one who knows how to flip a drugmaker. Let us introduce you to - or remind you of the existence of - Adrian Adams. Earlier this week, he notched a deal to sell Inspire Pharmaceuticals, where he is ceo, to Merck for $430 million, or $5 a share, a 26 percent premium at the time of the announcement. However, the stock was about $6 when he was hired in February 2010. For months after his a... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4684757 Thu, 07 Apr 2011 15:46:48 +0100 4684757 http://www.medworm.com/index.php?rid=4592695&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FQzD6otG0mCU%2F One of the big gripes among biotech investors is that Amgen has refused to pay a dividend. No matter how many times the issue has been raised, execs have refused to consider the prospect. Never mind that the stock has been battered amid a raft of struggles, notably FDA warnings over health risks associated with the Aranesp and Epogen anemia meds, concerns about reduced Medicare reimbursement and uncertainty about its pipeline and acquisition strategy (see this). At one point, the combination of setbacks and miscues resulted in Kevin Sharer being named one of the worst chief executives a few years ago (see this). Now, though, attention is focused on the possibility of a dividend since Wall Street anticipates the issue will be addressed at the upcoming annual shareholder meeting. Investors, ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4592695 Mon, 14 Mar 2011 13:59:30 +0100 4592695 http://www.medworm.com/index.php?rid=4074448&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FxMwnerinQLA%2F The closely watched dispute between Merck and Johnson & Johnson over a pair of register-ringing rheumatoid arthritis drugs has been delayed. A widely anticipated decision was expected later this month, but in a filing this morning with the US Securities and Exchange Commission, Merck disclosed that a decision about Remicade and Simponi will not be sometime next year. Here’s the background: Schering-Plough had distribution rights to both drugs outside the US and some Asian markets, but those now belong to Merck through its acquisition of the drugmaker last year. J&J has argued the deal triggered a change of control clause allowing it to terminate the arrangement. But Merck insists Schering-Plough was the surviving entity because a reverse merger took place. [The company is s... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4074448 Thu, 14 Oct 2010 15:05:44 +0100 4074448 http://www.medworm.com/index.php?rid=3925089&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FIJjaeSI4FKc%2F Eliminating jobs is never easy, but some CEOs suffer less than others when it comes time to living with the consequences. For instance, did you know that the CEOs of the 50 companies that trimmed the most jobs since the latest recession began took home 42 percent more pay than their peers at S&P 500 firms? Who were the layoff leaders? Topping the list was Fred Hassan, the former Schering-Plough ceo, according to a report by the Institute for Policy Studies. Hassan received a $33 million golden parachute when the drugmaker was bought by Merck last year. Meanwhile, 16,000 jobs are being eliminated (background). Hassan’s total 2009 pay of nearly $50 million could cover the average cost of these workers’ jobless benefits for more than 10 weeks. Next up is the king of recalls, ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=3925089 Wed, 01 Sep 2010 13:01:48 +0100 3925089 http://www.medworm.com/index.php?rid=3691112&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FJ-hNnZeY0T4%2F Former Schering-Plough ceo Fred Hassan and several former colleagues and board members are a step closer to providing sworn testimony about the notorious Enhance clinical trial for Vytorin, which raised questions about the effectiveness of the widely advertised cholesterol pill (back story). A federal judge this week denied yet another a bid to dismiss a shareholder lawsuit, which accused the group of playing shenanigans with the results. At issue, is whether Schering-Plough and Merck (which were partners) handled the release of the trial data properly, given a two-year delay, a brief change in the primary endpoint without consulting the lead investigator and huge stock sales by some Schering-Plough execs. The trial, by the way, found Vytorin wasn’t any better at reducing arterial plaqu... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=3691112 Wed, 23 Jun 2010 12:58:10 +0100 3691112 http://www.medworm.com/index.php?rid=3641323&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FyNOi-wgttY0%2F What makes Fred run? How did the former Schering-Plough ceo find success? Manage people? Overcome a stutter? In this interview, which you can watch by clicking here and registering, Hassan discusses the top line, passive resistance, managing bigness and overcoming toxicity in the system. In the end, Fred believes he’s “a good person to work for. If you go back, there were a lot who followed me from Pharmacia to Schering-Plough…But I can be very, very tough.” (Source: Pharmalot) Pharmalot blogs http://www.medworm.com/rss/comments.php?id=3641323 Tue, 08 Jun 2010 12:56:50 +0100 3641323 http://www.medworm.com/index.php?rid=3374372&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2010%2F03%2Fpharma-giles-writes_16.html If you can't see what's coming next, you need glasses...Story (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=3374372 Tue, 16 Mar 2010 21:04:00 +0100 3374372 http://www.medworm.com/index.php?rid=3004086&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FpcL5dPPQIAQ%2F Now that Fred Hassan is no longer the chief executive of Schering-Plough - or any other drugmaker - since Merck finally scooped up its rival, Fred has been busy accepting invitations to join the boards of various other corporations. Apparently, his experience selling drugmakers - don’t forget his time running Pharmacia - is seen as invaluable to others who want to increase their stock prices. Last week, for instance, Fred joined the Warbug Pincus private equity firm as a senior advisor (please look here) and joined the board of Bausch & Lomb, which makes eye products (see here). And late last month, he became a Time Warner board member (statement). And for those who weren’t aware, Fred is already an Avon Products board member. But where will Fred turn up next? Suggestions?... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=3004086 Wed, 18 Nov 2009 13:34:02 +0100 3004086 http://www.medworm.com/index.php?rid=2944096&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2F71wbHZG0du0%2F Hired someone new and exciting? Promoted a rising star? Finally solved that hard-to-fill spot? Share the news with us and we’ll share with it others. That’s right. Send us your announcements and we’ll find a home for them. Don’t be shy. Everyone wants to know who is coming and going, especially with all the layoffs. Despite the downsizing, there is movement. Here are some of the latest changes. Recognize anyone? And here is something we hope to make a regular feature. Send us a photo and we will spotlight a different person each week. This time around, we note that Qforma, which traffics in analytics and predictive modeling, hired Erin McLaughlin as director of field operations. She last worked as an account manager at Surveillance Data Inc (SDI) and before that was with NDCHealth ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=2944096 Fri, 30 Oct 2009 11:07:44 +0100 2944096 http://www.medworm.com/index.php?rid=1985170&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F463830310%2F The drugmaker is hosting an R&D update today for securities analysts, fund managers and the media, starting at 8:30 am EST, at its Kenilworth, New Jersey, facilities. Much of the discussion, as you can imagine, will be devoted to pipeline issues, and as Deutsche Bank analyst Barbara Ryan observed in an investor note about the gathering, “expectations…appear to be fairly low.” Schering-Plough “will probably also use the opportunity to highlight the positive aspects of its current business model, including its diversified revenue composition, its more limited generic vulnerability versus its peers, and its extensive restructuring initiatives.” “Nonetheless, five years into (the drugmaker’s) Action Agenda program, the company is still not in a p... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1985170 Mon, 24 Nov 2008 12:34:38 +0100 1985170 http://www.medworm.com/index.php?rid=1975636&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F459570317%2F Major drug makers want their voices heard as Democrats, traditionally critics of the industry, start crafting plans to expand health insurance coverage and cut the escalating costs of care. And so pharma is actively promoting the success of Medicare’s prescription drug coverage and meds to save money in the long run, Reuters writes. “We need first a seat at the table,” Fred Hassan, Schering-Plough’s ceo, tells the news service. And so pharma execs are meeting in Washington this week at a gathering of the International Federation of Pharmaceutical Manufacturers and Associations. Hassan, the group’s current president, says the location was chosen in recognition of the coming political changes. The backdrop: President-elect Barack Obama and other Democrats, who ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1975636 Thu, 20 Nov 2008 13:37:42 +0100 1975636 http://www.medworm.com/index.php?rid=1921193&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F436233429%2F Eager to appease anxious shareholders, the drugmaker quietly disclosed plans to mail a ’say on pay’ questionnaire to shareholders with its 2009 proxy. And the results will be available in the compensation, discussion and analysis section of the 2010 proxy statement. “This survey is evidence of our commitment to seek and consider shareholder input, as we did in 2006 with the shareholder survey on majority voting for directors,” Pat Russo, who chairs the board’s nominating and corporate governance committee, says in a statement, which is tucked away on the Corporate Governance page of the Schering-Plough web site. The survey stops short of the advisory vote on compensation offered by some US companies, but may benefit investor relations, IR magazine notes. Altho... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1921193 Wed, 29 Oct 2008 20:50:43 +0100 1921193 http://www.medworm.com/index.php?rid=1888456&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F423826948%2F Nearly a year after Raul Kohan, the former head of the drugmaker’s animal health business, was shifted to the No. 2 slot in the wake of the acquistion of Organon’s animal-health unit, he is being placed in charge once again. At the time, Organon’s Ruurd Stolp was tapped to the combined animal health business, which generated $1.45 billion during the first six months of this year. Now, though, Stolp (see photo) is leaving the drugmaker, although there is no word on his destination. The move comes amid ongoing turmoil at Schering-Plough, which is still reeling from a dramatic decline in sales of its Vytorin and Zetia cholesterol drugs and a subsequent reorganization designed that involves closing plants and cutting 10 percent of its workforce of 55,000 in order to save up ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1888456 Fri, 17 Oct 2008 15:57:27 +0100 1888456 http://www.medworm.com/index.php?rid=1806483&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F395578767%2F Is Fred Hassan’s bark worse than his bite? Perhaps only the Intervet animal health division knows for sure. And the sales reps, in particular, will know tomorrow. That’s when about 60 positions from the 400-strong sales force, or 15 percent, will be told goodbye, according to sources. A spokeswoman confirms the cuts. Cutbacks at Schering-Plough are not surprising, of course. In response to the collapse in Vytorin and Zetia scrips, Hassan trumpeted plans to cut 10 percent of the drugmaker’s workforce of 55,000 in order to save up to $1.5 billion by 2012, although most of the cuts are expected to occur by 2010. In making his April announcement, Fred vowed to consolidate management; use more shared staff support and services; reduce travel; cut sales and marketing; slash R&... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1806483 Wed, 17 Sep 2008 21:38:41 +0100 1806483 http://www.medworm.com/index.php?rid=1723653&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F371073340%2F The circumstances surrounding the recently released SEAS study, which unexpectedly revealed a few dozen cases of cancer and cancer-related deaths among patients given the controversial Vytorin cholesterol pill, is apparently angering the House Energy & Commerce Committee. As part of its ongoing investigation into how Merck and Schering-Plough handled clinical trial data surrounding the Enhance trial, the committee is now questioning conflicting data from the SEAS trial. For instance, the SEAS press release from Monday, July 21, 2008, indicated that there were 93 cancer cases among those taking Vytorin and 65 among those taking placebo. But a press release issued by Oxford University’s Clinical Trials Service Unit indicated there were 102 cancer cases among Vytorin users and 67 in t... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1723653 Thu, 21 Aug 2008 16:40:00 +0100 1723653 http://www.medworm.com/index.php?rid=1720551&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F370269113%2F Despite Pfizer’s best efforts, the lawyers for the family of a woman who died four years ago after taking the Celebrex painkiller have succeeded in convincing a New Jersey state court judge that Fred should be deposed and his videotaped testimony shown in court this fall. Why does this matter? Well, Fred was ceo at Pharmacia, which Pfizer scooped up in order to gain the profits from the Celebrex painkiller. And Celebrex was a key pill for Pharmacia which, you may recall, furiously battled Merck for dominance of the nascent Cox-2 inhibitor market when both drugmakers nearly simultaneously launched their meds nearly a decade ago. Back in the day, Fred (who’s now the Schering-Plough ceo) was out there stumping for Celebrex, so his testimony can shed light on steps taken to ensure... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1720551 Wed, 20 Aug 2008 20:14:03 +0100 1720551 http://www.medworm.com/index.php?rid=1642830&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F341979073%2F What cancer scare? That was the deft touch the Schering-Plough ceo had when asked on a teleconference call today with Wall Street analysts about the news that the so-called SEAS trial found an unexpectedly higher rate of cancer in Vytorin patients than those given a placebo. Instead of mentioning the ‘C’ word, Fred focused on a secondary endpoint - a statistically significant 22 percent reduction in non-fatal heart attacks and coronary artery bypass surgery. Never mind that SEAS failed to meet the main goal of improving cardiovascular outcomes for patients with aortic stenosis, which is an irregular thickening of the main valve to the aorta. “What I took away is that this study confirmed the results from other cholesterol lowering agents that reducing LDL does not reduce... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1642830 Mon, 21 Jul 2008 23:03:42 +0100 1642830 http://www.medworm.com/index.php?rid=1635181&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F338373514%2F Just when the bottom might have seemed near…. The fallout over the controversial handling of the Enhance trial continues to hurt Vytorin prescriptions, which fell 5 percent last month, according to the latest filing by Schering-Plough with the Securities and Exchange Commission. The decline outpaced the falloff in the entire cholesterol market, which dipped 2 percent, which means Vytorin’s share of the overall cholesterol market is shrinking - 6.8 percent in June compared with 9 percent in January, when preliminary Enhance results were released. As you can see, Zetia scrips and market share are also declining. Perhaps it’s time for Schering ceo Fred Hassan to revive merger talks. (Source: Pharmalot) Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1635181 Thu, 17 Jul 2008 20:40:40 +0100 1635181 http://www.medworm.com/index.php?rid=1635182&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F338250932%2F The Vytorin controversy must be taking its toll on the Schering-Plough ceo. Next week, a former journalist from The Financial Times will join the drugmaker as a communications consultant to help manage Fred’s response to the flap over the cholesterol pill and assorted crises that cause bad press, among other things. Christopher Bowe, who for many years followed pharma for the FT from the newspaper’s Manhattan offices, arrives in Kenilworth, New Jersey, to work closely with Ken Banta, a full-time consultant and strategic communications specialist, our sources tell us. For many years, Banta has functioned as Fred’s media masseuse and unofficial right hand at both Schering-Plough and Pharmacia. Fred could certainly use some image building. The ‘Whytorin’ controve... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1635182 Thu, 17 Jul 2008 17:54:41 +0100 1635182 http://www.medworm.com/index.php?rid=1560815&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F07%2Fschering-plough-enhance-busted.html Story (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1560815 Tue, 01 Jul 2008 20:49:00 +0100 1560815 http://www.medworm.com/index.php?rid=1509069&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F309831601%2F The first round in the big job cuts announced in early April are getting under way, according to a couple of sources. You may recall that ceo Fred Hassan, in response to the collapse in Vytorin and Zetia scrips, trumpeted plans to cut 10 percent of the drugmaker’s workforce of 55,000 in order to save up to $1.5 billion by 2012, although most would occur by 2010. We do not have precise numbers yet, but we are told they will be sizeable and far-reaching, given that the ultimate goal is to eliminate about 5,500 positions. In making his April announcement, Fred vowed to consolidate management; use more shared staff support and services; reduce travel; cut sales and marketing; slash R&D; consolidate product lines, particularly in the animal health unit; and close some of the 60 manuf... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1509069 Wed, 11 Jun 2008 19:07:13 +0100 1509069 http://www.medworm.com/index.php?rid=1461242&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F295820027%2F Depends who you ask, of course. But everyone seems to love a list and so the latest ranking from a trade magazine offers an interesting - some may say curious - mix of ceo’s, politicians, regulators, scientists, academics and trade group types. There was no special ranking for controverisal, but Glaxo’s newly retired ceo JP Garnier got as high as No. 22 and Fred Hassan, who runs Schering-Plough, was named No. 32. The FDA’s Janet Woodcock garnered the 18th position, although her boss, the beleaguered FDA commish Andy von Eschenbach, didn’t rank at all. So much for making an impact, Andy. But NICE chair Michael Rawlins ranked No. 5. Who else scored? Carl Icahn shows up as 26th. Cass Wheeler of the American Heart Association finished at No. 36. Merck’s Dick Clar... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1461242 Thu, 22 May 2008 13:23:25 +0100 1461242 http://www.medworm.com/index.php?rid=1458525&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F05%2Fwondering-what-to-buy-fred-hassan-and.html How about a cartoon? Hat tip: PM (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1458525 Wed, 21 May 2008 15:40:00 +0100 1458525 http://www.medworm.com/index.php?rid=1454777&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F294222746%2F The latest installment of the ongoing hoopla over Fred Hassan’s compensation began yesterday when Schering-Plough exec Sue Wolf fired off comments in response to a Forbes magazine piece that stated his $19 million cash and stock bonus in 2006 was based largely on the drugmaker’s market cap. “Market capitalization,” wrote Wolf, Schering-Plough’s corporate secretary, vp for governance and associate general counsel, “was not a performance metric for any incentive plan since Fred joined Schering-Plough.” However, the drugmaker did use market cap as a metric in 2006, according to the 2007 proxy (please see page 25). Interestingly, market cap was never listed in the 2006 proxy as a part of the plan to be adopted by shareholders for measuring compensation... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1454777 Tue, 20 May 2008 11:43:06 +0100 1454777 http://www.medworm.com/index.php?rid=1451975&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F293494275%2F Should Fred return the cash? That’s the question raised by Forbes, which notes that the bonus would have been “endangered” had the Enhance study of the Vytorin and Zetia cholesterol pills been released in November 2006 or March 2007 as had been expected. The final release earlier this year has caused a sharp drop in the use of the two drugs and in Schering-Plough’s stock price. “It would certainly make me want to investigate the situation further, particularly if I was shareholder,” Paul Hodgson of The Corporate Library, a corporate governance research firm, tells the mag. “It would seem to me that given Hassan’s reputation for open-mindedness in terms of compensation, that if there were some doubts about whether he should receive a bonus, he... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1451975 Mon, 19 May 2008 13:38:53 +0100 1451975 http://www.medworm.com/index.php?rid=1451791&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F05%2Fpharmagossip-readers-have-your-say.html Read this first. (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1451791 Mon, 19 May 2008 11:13:00 +0100 1451791 http://www.medworm.com/index.php?rid=1429317&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F286045829%2F When Schering-Plough shareholders show up in the oh-so convenient location of The University of Memphis next Friday for the annual meeting, their proxy statements won’t include one detail about Fred Hassan’s compensation. Although page 34 notes that the ceo received about $30 million in compensation last year, a more recent award of 836,000 options isn’t listed. Now, the drugmaker may argue that an annual grant was also awarded last year after the proxy was filed and, unlike last year, there were no scandals causing shareholder and government scrutiny. So what’s the big deal? But consider that the latest options award, which we estimate are currently worth about $6.7 million based on the value assigned last year’s options award (see page 37), have an exercise ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1429317 Thu, 08 May 2008 12:25:48 +0100 1429317 http://www.medworm.com/index.php?rid=1426329&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F05%2Fvytorin-saga-contd-over-to-you-melissa.html ProbeDissection (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1426329 Wed, 07 May 2008 08:04:00 +0100 1426329 http://www.medworm.com/index.php?rid=1426775&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F284988276%2F How many and from which offices? The filing with the Securities and Exchange Commission doesn’t specify. We asked a Schering-Plough spokeswoman for clarity, but until we receive a reply, we are left to wonder whether this involves a securities matter, healthcare reimbursement or, perhaps, both. To an extent, this is not surprising. As Schering-Plough notes in the filing, “Schering-Plough, the joint venture and/or its joint venture partner, Merck, have received a number of governmental inquiries and have been the subject of a number of investigations” concerning Vytorin. And most, but not, all of this has already been widely reported. “These include several letters from Congress, including the House Committee on Energy and Commerce, the House Subcommittee on Oversig... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1426775 Wed, 07 May 2008 00:04:43 +0100 1426775 http://www.medworm.com/index.php?rid=1396215&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fschering-plough-fred-buys.html Drug maker Schering-Plough Corp. said Thursday that Chairman and Chief Executive Fred Hassan has bought 110,000 shares of common stock for $2 million, or an average price of $18.26 per share. (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1396215 Thu, 24 Apr 2008 18:55:00 +0100 1396215 http://www.medworm.com/index.php?rid=1396424&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F277079701%2F The Schering-Plough ceo is making good on his promise to buy $2 million worth of the drugmaker’s common stock, a vow he made on January 18 after the preliminary Vytorin data caused a huge controversy. He couldn’t do so immediately, though, until he received legal clearance. Now that first-quarter earnings have been reported, he snapped up about 110,000 shares at an average purchase price of $18.26 each. “As I said when I announced my intention to purchase these shares in January, this investment in Schering-Plough reflects my long-term confidence in the company, its products - including Zetia and Vytorin - and our late-stage pipeline,” Fred says in a statement. However, Fred first intended to purchase the stock at $21.62 a share, which would have amounted to rough... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1396424 Thu, 24 Apr 2008 18:17:39 +0100 1396424 http://www.medworm.com/index.php?rid=1396431&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F276843265%2F One day, Fred Hassan may look back and pine for 2007. Why? Schering-Plough stock rose nearly 14 percent during the year. And his board of directors awarded him with $24.7 million in compensation, a 2.2 percent increase. Never mind the $1.59 billion loss - there was a 20 percent gain in revenue. Overall, Schering-Plough’s performance has been “excellent” since Hassan took over in April 2003 when compared to its prior results and against seven other large drugmakers, according to the proxy statement filed with the Securities and Exchange Commission. His compensation was exceeded by execs at two drugmakers in what Schering-Plough considers its “peer group,” Abbott Labs and Johnson and Johnson, the Associated Press notes. Last year’s salary totaled $1.67 mil... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1396431 Thu, 24 Apr 2008 11:10:33 +0100 1396431 http://www.medworm.com/index.php?rid=1396219&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fwatch-freds-latest-performance.html as he talks to Mike Huckman. (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1396219 Thu, 24 Apr 2008 10:20:00 +0100 1396219 http://www.medworm.com/index.php?rid=1395112&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Ffred-buckets-hassan.html Total compensation for Schering-Plough's CEO Fred Hassan rose 2.7 percent to $24.7 million in 2007, a year in which the company recorded a loss of $1.59 billion despite a 20 percent rise in revenues.The bulk of his compensation, $18.4 million, came from stock and stock options awarded in 2007, more than double the amount from such awards in 2006.Hassan received over $608,000 in perks - nearly the same as in 2006 - which included $292,250 in company contributions to savings plans. The perks also included $146,680 for personal security, nearly $81,000 for life insurance, $75,544 for use of company aircraft, $7,000 for financial planning, $2,500 for tax preparation, $3,127 for home security, and $1,101 for a company car and driver. Source (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1395112 Thu, 24 Apr 2008 08:57:00 +0100 1395112 http://www.medworm.com/index.php?rid=1395115&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fvytorin-sales-just-for-jami-rubin.html Fred's body language can sometimes help decipher what he means! (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1395115 Thu, 24 Apr 2008 08:01:00 +0100 1395115 http://www.medworm.com/index.php?rid=1370742&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fschering-plough-listen-with-fred.html Schering-Plough is scheduled to announce its sales and earnings results for the 2008 first quarter on Wednesday, April 23, 2008. At 8 a.m. (EDT) on that day, Schering-Plough will conduct a conferencecall to review results for the 2008 first quarter and provide an update onthe company's business and major initiatives now under way. Fred Hassan, Schering-Plough's chairman and CEO, and other members of management will host the conference call. To listen live to the call, dial 1-877-565-9664 or 1-706-634-5003 and enter conference ID #40651446.A replay of the call will be available starting at approximately 11 a.m. on April 23 through 5 p.m. on May 22. Tolisten to the replay, dial 1-800-642-1687 or 1-706-645-9291 and enter the conference ID #40651446. A live audio Webcast of the conference ca... PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1370742 Mon, 14 Apr 2008 19:43:00 +0100 1370742 http://www.medworm.com/index.php?rid=1367914&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Finterested-in-vytorin-then-this-is-must.html http://shearlingsplowed.blogspot.com/ (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1367914 Sat, 12 Apr 2008 05:47:00 +0100 1367914 http://www.medworm.com/index.php?rid=1353984&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fschering-plough-enhance-rhetorical.html Maybe Carrie can help you Fred - or this.Ed at Pharmalot has the latest twist in the sorry tale. (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1353984 Mon, 07 Apr 2008 16:31:00 +0100 1353984 http://www.medworm.com/index.php?rid=1354207&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F265663271%2F A loaded question, no doubt. And the answer depends on who you ask. Late Friday, the National Lipid Association reacted to the ruckus over the Vytorin study by issuing a statement saying that “nothing in this study has changed our position about the necessity for lipid lowering or the need to treat patients to established National Cholesterol Education Program goals.” We were implored by some to mention this statement over anger at the ACC presentation last week of the Enhance trial, which found Vytorin failed to show any benefit over the much cheaper Zocor in reducing plaque in the carotid artery, and even showed a statistically insignificant buildup, although it did a better job of lowering LDL in a small group of patients with inherited high cholesterol. We were also asked w... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1354207 Mon, 07 Apr 2008 13:39:21 +0100 1354207 http://www.medworm.com/index.php?rid=1347351&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fand-heres-another-hard-reality-fred.html This study was developed by experts.Whether the incremental lowering of LDL by this drug had an effect on the progression of atherosclerosis was an open question – worthy of study. As is the question of what effect the drug has on our patients – it is an open question – worthy of study. We do not know.Remember that this is a new drug – with a novel mechanism – first in class – we do not have outcomes studies.But you might say, but the drug lowers LDL, isn’t that a good thing? Shouldn’t that be associated with benefit? Wasn’t that enough for the FDA?Well, although LDL is an important risk factor for cardiovascular disease, we have already refuted the assumption that just because a drug reduces LDL it must improve patient outcomes. Hormone replacement therapy reduces LDL an... PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1347351 Thu, 03 Apr 2008 15:50:00 +0100 1347351 http://www.medworm.com/index.php?rid=1347619&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F263262512%2F Harlan Krumholz made quite an impression at the American College of Cardiology meeting on Sunday. As the head of a four-doctor panel assembled to review the controversial Enhance trial, the Yale University professor recommended Vytorin should not be used as a first or second-line therapy, spooking investors. Schering-Plough ceo Fred Hassan is lashing out. Last night, he told analysts “we were very disappointed with the way ACC unfolded. We hoped to see an open and balanced scientific discussion, and this did not happen.” Hassan hoped for debate and questions. In response to criticism that he unfairly dominated the proceedings, Krumholz wrote us last night to say: “It is so interesting that they call the recommendations biased - they are simply that we should stick with dr... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1347619 Thu, 03 Apr 2008 11:09:09 +0100 1347619 http://www.medworm.com/index.php?rid=1346244&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F262918058%2F The drugmaker, which is reeling from the controversy over Vytorin and the ensuing drop in prescriptions, is closing plants and cutting 10 percent of its workforce of 55,000 in order to save up to $1.5 billion. The move also comes a few months after Schering-Plough bought Organon Biosciences and had already begun slashing jobs to reduce expenses by $500 million which, of course, means the latest problems contributed to the extra $1 billion in savings targeted. “The whole company is built around cholesterol,” Hassan says in a teleconference. At least $1.25 billion is slated to be wrung out of operations by 2010, and the rest by 2012. To achieve these goals, ceo Fred Hassan wants to consolidate management; use more shared staff support and services; reduce travel; cut sales and ma... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1346244 Wed, 02 Apr 2008 22:51:01 +0100 1346244 http://www.medworm.com/index.php?rid=1344610&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F262602842%2F Over the past several years, a big stink has been raised about conflicts of interest, such as when doctors write papers about a particular drug and also serve as a consultant in some fashion to the company who makes the medicine. Right or wrong, pharma regularly defends such situations by explaining that the best specialists are in demand. Generally, drugmakers shrug off the criticism. Now, though, Fred Hassan is trying to use such a situation to his advantage to deflect the controversy over the Vytorin cholesterol pill. A panel at the American College of Cardiology conference on Sunday was largely dominated by Yale University’s Harlan Krumholz, who skewered the results of the controversial Enhance trial by saying the drug shouldn’t be used as a first or second-line therapy. Th... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1344610 Wed, 02 Apr 2008 11:36:06 +0100 1344610 http://www.medworm.com/index.php?rid=1340921&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F261914185%2F Nothing is beyond consideration, it seems. In a series of hastily arranged interviews to do as much damage control as possible, Schering-Plough execs are scrambling. And so Fred Hassan, Schering-Plough’s ceo, tells The Wall Street Journal that he doesn’t have immediate plans for big changes, but “we will take tough actions if tough actions are needed…If revenues are going to be permanently impaired, then we would need to size the company to line up with that size.” In other words, more layoffs. And Deepak Khanna, general manager of the Merck/Schering-Plough joint venture that markets Vytorin and Zetia, told CNBC that a letter is going out to docs to explain their view of the Enhance study, which was skewered by Yale University’s Harlan Krumholz in a pane... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1340921 Tue, 01 Apr 2008 11:59:05 +0100 1340921 http://www.medworm.com/index.php?rid=1340564&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fguess-how-big-hassans-bucket-of-money.html This big! (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1340564 Tue, 01 Apr 2008 10:29:00 +0100 1340564 http://www.medworm.com/index.php?rid=1340567&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F04%2Fschering-plough-hassan-speaks.html To Jim Cramer. Write your own caption to the picture! (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1340567 Tue, 01 Apr 2008 09:00:00 +0100 1340567 http://www.medworm.com/index.php?rid=1312485&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F253892123%2F Another busy day draws to a close. And so the time has come for us to check on how the short people are faring with their after-school sports and curl up in front of the telly with the shortest one of all. Of course, first we must feed the dog. Meanwhile, we hope your day was productive and you do something fun this evening… The FDA is warning that Spiriva, a drug for COPD, or chronic obstructive pulmonary disease, which is marketed jointly Pfizer and Boehringer Ingelheim, may increase the risk of a stroke. In a statement on its web site, the FDA says a preliminary analysis by Boehringer of about 13,500 patients from 29 clinical studies found that the risk of a stroke was 8 in 1,000 patients taking the inhaled drug, compared with 6 in 1,000 who took a placebo. This means that the est... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1312485 Wed, 19 Mar 2008 03:17:01 +0100 1312485 http://www.medworm.com/index.php?rid=1250166&cid=t_134640_109_f&fid=34800&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FClinicalPsychologyAndPsychiatryACloserLook%2F%7E3%2F239412129%2Fwelfare-queens-on-fiapta-demand.html I've been very neglectful in linking to a number of very interesting stories by my compadres in the blogging world. So here is a limited attempt to catch up:Pfizer wants to pry confidential peer reviews away from the New England Journal of Medicine. This is utterly ridiculous. Pfizer is facing a pile of lawsuits and is hoping that a peer reviewer might have said something nice about their products Bextra or Celebrex in a peer review, which they could then try to use as a legal defense. This reeks of desperation.PharmaGossip notes that AstraZeneca is out a cool $215 million for Medicaid drug price fraud in Alabama. Sheesh, and to hear certain politicians and talk show hosts decry the so-called "welfare queens" -- it would appear that AstraZeneca is the real welfare queen!Aubrey Blumsohn has... Clinical Psychology and Psychiatry: A Closer Look blogs http://www.medworm.com/rss/comments.php?id=1250166 Fri, 22 Feb 2008 13:34:00 +0100 1250166 http://www.medworm.com/index.php?rid=1237092&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F236093912%2F A few day ago, Schering-Plough ceo Fred Hassan appeared on CNBC’s Mad Money, where he spoke with Jim Cramer, the hyperactive host, about the controversy surrounding Vytorin. In particular, Cramer asked questions about the famous Enhance trial, which found the cholesterol pill wasn’t any better at reducing arterial plague in the carotid artery compared with Zocor, and even found a statistically insignificant buildup. Congress is investigating, you may recall, whether Schering-Plough and Merck, its marketing partner, handled the release of the clinical-trial data properly, given a two-year delay; a brief change in the primary endpoint without consulting the lead investigator, and huge stock sales by some Schering-Plough execs. In its defense, Schering-Plough issued an unusual tim... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1237092 Sat, 16 Feb 2008 14:21:51 +0100 1237092 http://www.medworm.com/index.php?rid=1236201&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F02%2Fschering-plough-vytorin-tick-tick-tick.html Tick tick tick! (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1236201 Fri, 15 Feb 2008 21:12:00 +0100 1236201 http://www.medworm.com/index.php?rid=1234619&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F02%2Fschering-plough-vytorin-dont-let-it-get.html Got them Vytorin Blues.Peter Rost's take on Fred's interview with Jim Cramer. (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1234619 Fri, 15 Feb 2008 12:03:00 +0100 1234619 http://www.medworm.com/index.php?rid=1226723&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F02%2Fschering-plough-vytorin-at-last.html A congressional committee has broadened its probe of the delay by drug makers Schering-Plough in releasing study data about their cholesterol drug Vytorin, saying Internet postings indicate they knew the results long before releasing them. The controversial study found Vytorin wasn't as effective as advertised. The fallout has hammered the stocks of both companies,cut sales of Vytorin, triggered numerous potential class-action lawsuits, and raised questions about the drug makers' honesty. In the latest development,the House Committee on Energy and Commerce has demanded documents from the chief executives of both drug makers, as well as the Food and Drug Administration, and the webmaster for a site called Cafepharma Inc. On the site, anonymous postings by pharmaceutical sales representative... PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1226723 Wed, 13 Feb 2008 06:35:00 +0100 1226723 http://www.medworm.com/index.php?rid=1225628&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F233914720%2F In his carefully rehearsed remarks this morning, the Schering-Plough ceo tried to strike an aggressive tone with the plethora of analysts, fund managers and media listening to the teleconference call. All ears were attuned, of course, to any nuances or shadings that Fred and his lieutenants might provide on the controversial Enhance trial, which found that Vytorin failed to yield any statistical advantage over the cheaper Zocor in reducing arterial plaque. The issue, as you may recall, is whether the drugmaker and its joint venture partner, Merck, handled the release of clinical trial data properly, given that the lead investigator wasn’t consulted when the endpoint was briefly changed; the results were delayed nearly two years and several Schering-Plough execs sold huge chunks of st... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1225628 Tue, 12 Feb 2008 19:23:14 +0100 1225628 http://www.medworm.com/index.php?rid=1194757&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F02%2Fguess-which-presidential-candidate-is.html Fancy handling that question Dick and Fred? On the campaign trail, Hillary Clinton recently told a crowd recently at the California State University Northridge campus that she wants to “give Medicare the opportunity to bargain to get cheaper drug prices.” The New York Democrat added, “We pay for clinical trials ... and then we end up paying the highest cost in the world because other countries drive a better bargain.” Her rhetoric echoed similar attacks by her Democratic rival Barak Obama. Republican John McCain, in a debate on Jan. 5, asked, “Why shouldn't we be able to reimport drugs from Canada?” answering himself, “It's because of the power of the pharmaceutical companies.” When former Massachusetts Gov. Mitt Romney urged him not to cast the drug makers as the “big ba... PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1194757 Fri, 01 Feb 2008 11:13:00 +0100 1194757 http://www.medworm.com/index.php?rid=1190092&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F226143293%2F As early as last spring, there was scuttlebutt about the controversial Vytorin data - the bet-the-franchise study that failed to find any statistical advantage over the much cheaper Zocor in reducing arterial plaque. The results were delayed for nearly two years while the primary endpoint was changed. Meanwhile, Vytorin and Zetia (which, along with Zocor comprise the Vytorin combo therapy) were heavily promoted. And concerns that Schering-Plough execs sold lots of stock last year have sparked investigations by Congress and two state attorneys general. This has all led to the ‘Who knew what and when?’ line of skepticism toward Schering-Plough and Merck, its Vytorin joint venture partner. Schering-Plough has repeatedly argued its execs knew nothing of the results until early this... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1190092 Wed, 30 Jan 2008 22:32:07 +0100 1190092 http://www.medworm.com/index.php?rid=1188586&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F01%2Fvytorin-who-knew.html Peter Rost is causing more tremors! (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1188586 Wed, 30 Jan 2008 18:33:00 +0100 1188586 http://www.medworm.com/index.php?rid=1185751&cid=t_134640_109_f&fid=34800&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FClinicalPsychologyAndPsychiatryACloserLook%2F%7E3%2F225338935%2Ffred-hassans-hindquarters-meet-peter.html Schering-Plough CEO Fred Hassan gets served (link contains adult language) by Peter Rost. Badly. While Hassan has been hailed as some sort of genius by some in past years, Rost offers a take on his record that is much less flattering. Here's Rost's lead-in to the story:In this article BrandweekNRX will take you behind the glossy numbers and show you what really happened during Hassan’s tenure as CEO of two major drug companies and how he managed to fool almost everyone into thinking he had created successful turn-arounds. Gee, Peter, that's not very nice. Then again, neither is this:And that’s not all--there is also evidence that a significant part of Pharmacia sales were based upon selling drugs to its wholesalers ahead of demand, “stuffing the channels,” resulting in revenue of $... Clinical Psychology and Psychiatry: A Closer Look blogs http://www.medworm.com/rss/comments.php?id=1185751 Tue, 29 Jan 2008 16:25:00 +0100 1185751 http://www.medworm.com/index.php?rid=1185749&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F01%2Fschering-plough-peter-rost-is-smokin.html This is a "must read"! Schering-Plough’s CEO Fred Hassan has two years left to retirement as he faces the most serious challenge to his personal legacy: One failed trial, two Congressional investigations, subpoenas from the New York State Attorney General, an SEC investigation, and a brutal 40% drop in Schering-Plough stock price from its peak. Until a few weeks ago Hassan was God's gift to the pharmaceutical industry (according to Forbes). But was it all just a mirage--a skillfully played con-game?More (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1185749 Tue, 29 Jan 2008 11:37:00 +0100 1185749 http://www.medworm.com/index.php?rid=1182991&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F224548942%2F In their ongoing effort to defend themselves from accusations of insider trading and improper marketing, the drugmaker has filed a document with the Securities and Exchange Commission offering more precise info about when they were informed of the Vytorin study results. Tom Koestler, chief scientist: Jan. 7 at 2 p.m. Fred Hassan, ceo: Jan. 10 at 8 a.m. Tom Sabatino, general counsel: Jan. 10 at 8 a.m. Carrie Smith Cox, exec vp and president: Jan. 10 at 8:30 a.m. Bob Bertolini, exec vp: Jan. 10 at 9 a.m. The study results were issued in a press release on Jan. 14, although that came after a delay of nearly two years with scant info from either Schering-Plough or Merck, its joint-venture partner. By then, however, the drugmakers endured two months of withering criticism for briefly changing ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1182991 Mon, 28 Jan 2008 12:54:59 +0100 1182991 http://www.medworm.com/index.php?rid=1181641&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F01%2Fwhytorin-saga-forbes-matt-herper-gets.html Here is a letter Schering Plough's Ken Banta sent on Friday to Matt Herper, Associate Editor at Forbes demanding corrections and apologies for this story that ran in the magazine about the ENHANCE study, Schering-Plough, and CEO Fred Hassan.Matt, Thanks for discussing the articles on Schering-Plough and our CEO that ran today in Forbes.From our call this morning, you know how disturbed we are about some inaccuracies and unfair portrayals in the piece -- and I appreciate after talking with you that many of these were the result of editing decisions that you did not control.These wrongly damage our company reputation and the reputation of our CEO.They also misinform your readers on medical matters, many of whom are surely taking cholesterol medications and could be frightened into bad decisi... PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1181641 Mon, 28 Jan 2008 05:25:00 +0100 1181641 http://www.medworm.com/index.php?rid=1179734&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F223501737%2F Dealing with a crisis is always challenging for a company. And the Vytorin controversy - some call it a scandal - is engulfing Fred Hassan, the Schering-Plough ceo, who was motoring along quite nicely, having convinced Wall Street that the drugmaker was turning itself around. Now, though, the stock has given up an entire year’s worth of gains as investors, doctors, legislators and regulators try to understand exactly what happened with the Vytorin trial, which measured the cholesterol med against Zocor but found no statistical difference in reducing plaque in the carotid arteries. The results were delayed nearly two years with scant info about the progress of this bet-the-franchise study. The primary endpoint was briefly changed without the consent of the lead investigator. A so-call... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1179734 Sat, 26 Jan 2008 13:30:31 +0100 1179734 http://www.medworm.com/index.php?rid=1179092&cid=t_134640_150_f&fid=34768&url=http%3A%2F%2Fpharmagossip.blogspot.com%2F2008%2F01%2Fwhytorin-spotlight-on-schering-ploughs.html Forbes' Matt Herper looks closely at Fred "Mr Fix It" Hassan, Schering Plough's mercurial CEO - and why the ENHANCE data took two years to surface.Hassan's defense?Schering didn't mean to do anything wrong, and he doesn't know exactly what went wrong. "I'm quite sure nobody had bad intentions," says Hassan, 62. "Why didn't it happen on time as it should have? I don't have the answers."The excuses are thin.Either Schering deliberately delayed a result it suspected would be bad or Hassan's team incompetently failed to realize that they were sitting on a time bomb. Since FORBES' first report on Nov. 19, Schering shares have given up 12 months of gains.Forbes pic - apologies to Chris Mueller/Redux for Forbes (Source: PharmaGossip) PharmaGossip blogs http://www.medworm.com/rss/comments.php?id=1179092 Fri, 25 Jan 2008 23:58:00 +0100 1179092 http://www.medworm.com/index.php?rid=1161236&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F218945175%2F Fred knows a good deal when he sees one. The reaction to the controversy over the Vytorin trial has gotten so bad that Schering-Plough stock is down roughly 20 percent this week. What better time to buy? And so Fred is wading in to snap up $2 million in stock with his own money. “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, this investment in Schering-Plough reflects my long-term confidence in the company, its products (including Zetia and Vytorin), and our late-stage pipeline,” he says in a statement, in which he blames the media portrayal of the trial results, but ignores the lack of transparency surrounding the release and handling of the data - a nearly two-year delay in disclosing results,... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1161236 Fri, 18 Jan 2008 15:46:15 +0100 1161236 http://www.medworm.com/index.php?rid=1158443&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F218366134%2F The Enhance trial continues to reverberate. Investors are again pummeling Schering-Plough stock. Docs are scurrying to calm patients worried about whether they should continue taking Vytorin (or Zetia, which is part of the combo therapy), and Congress is pressing ahead with an investigation into how Merck and Schering-Plough execs ran the clinical trial, advertised the drug and sold their own shares. The controversy is undermining what, until now, has been Hassan’s successful turnaround of Schering-Plough, which hoped the trial would show Vytorin to be a more effective cholesterol treatment than Merck’s Zocor, the other half of the Vytorin combination. The trial, of course, failed its primary endpoint, but Fred is trying to take it all in stride. “Things happen with the ... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1158443 Thu, 17 Jan 2008 17:49:32 +0100 1158443 http://www.medworm.com/index.php?rid=1128858&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F210596659%2F Speaking at a Morgan Stanley investor conference today, Fred tries to downplay the controversy over the cholesterol pill that Schering-Plough sells in conjunction with Merck as part of a joint venture, Reuters reports. The two drugmakers made themselves look very questionable two months ago when they announced a progress report on their Enhance study, which was completed in April 2006 but never released, prompting speculation about the findings. To top it off, an expert panel, which was entirely anonymous, recommended changing the study endpoint to speed things along. Last month, they backpedaled and agreed to leave the endpoint alone. But by then, the damage was done - a Congressional committee is investigating a “manipulation of trial data” and the drugmakers were skewered fo... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1128858 Thu, 03 Jan 2008 16:34:40 +0100 1128858 http://www.medworm.com/index.php?rid=1025487&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F184640687%2F As we gaze out the window, the large number of falling leaves is matched only by the volume of events to track. We hope to make it easy for you by sifting through the piles. Here are a few that we found…. Roche And Ventana Finally Start Talking (Bloomberg News) Schering-Plough’s Hassan Is Cautious About HDL Drugs (Yahoo/Reuters) Sanofi Says EU Backs Diabetes Testing On Acomplia Label (Forbes/AFX/Thomson) Share / E-mail (Source: Pharmalot) Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1025487 Wed, 14 Nov 2007 11:56:31 +0100 1025487 http://www.medworm.com/index.php?rid=1015909&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F182166702%2F Remember how more and more execs are carping about the agency? They blame the FDA for becoming too conservative in the wake of the Vioxx controversy and, as a result, fewer drugs are gaining approval. For instance, this is from Fred Hassan, the Schering-Plough ceo: “It just indicates to you that when bureaucrats come under pressure, they tend to choose the path of asking for more data, as opposed to approving the drug.” Wyeth’s Bob Essner recently fumed: “If you’re the first company to get approved in a certain area and competitors can’t get on the market, the FDA is now establishing monopolies. And that’s certainly not their mandate.” And this is what Dan Vasella at Novartis had to say: “The discussion on what this drug brings over and above what’s on the mark... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1015909 Fri, 09 Nov 2007 12:48:30 +0100 1015909 http://www.medworm.com/index.php?rid=865683&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F155334039%2F The position by the trade group is revealed in a letter written by Billy Tauzin, PhRMA’s ceo, to Essential Action, one of several advocacy groups that are pushing drugmakers to disclose their global contributions. The reason? Concern that charitable and educational donations result in off-label marketing by groups receiving funds; mask the agendas of public policy groups that debate policy issues, and allow researchers to circumvent normal disclosure requirements. Two months ago, the groups wrote the ceo of each drugmaker and large trade group asking them to commit to full disclosure on a worldwide basis. Since then, Lilly agreed, expanding an earlier promise to reveal all US donations. But the International Federation of Pharmaceutical Manufacturers Associations declined, saying dis... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=865683 Wed, 12 Sep 2007 11:38:34 +0100 865683 http://www.medworm.com/index.php?rid=758086&cid=t_134640_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F137334475%2F Well, the Schering-Plough ceo was wearing a white shirt and tie when he stopped by to chat this afternoon. The occassion? Fred and two lieutenants rode into Newark, NJ, to get warm and fuzzy with editorial writers and pharma beat reporters at The Star-Ledger of New Jersey (which owns Pharmalot, in case you forgot). For those not familiar with this rite, the session gives Fred a platform to touch on a few hot-button issues dear to his heart, field some questions and ignore stale pastries. Here are some of his choicest comments…. On the FDA: “It needs a lot of support. It’s still America’s crown jewel. They have a lot of eminent scientists and when they make decisions on certain things, the rest of the world notices and pretty much follows…But you have an atmosp... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=758086 Wed, 25 Jul 2007 19:18:46 +0100 758086