KENILWORTH, N.J., Dec. 27 /PRNewswire-FirstCall/ -- Schering-Plough Corporation (NYSE: SGP) will provide a live audio webcast of an informal presentation by Fred Hassan, chairman and chief executive officer, followed by a question-and-answer session, at the Morgan Stanley Pharmaceutical CEOs Unplugged Conference on Jan. 3, 2008, at approximately 8:45 a.m. (ET). Morgan Stanley hosts will moderate the informal "unplugged" presentation.
Included in Mr. Hassan's comments will be Schering-Plough's strategic evolution and the acquisition of Organon BioSciences N.V. (OBS). 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 12, 2007, specifically that the transaction is anticipated to be accretive to Schering-Plough's earnings per share by about 10 cents in the first full year, excluding purchase-accounting adjustments and acquisition- related costs; and Schering-Plough expects to achieve annual synergies of $500 million. It is expected to take three years from the closing to reach this level of synergies.
Hassan may also reaffirm the following items as disclosed in previous
Securities and Exchange Commission filings:
-- Schering-Plough anticipates that sales from VYTORIN and ZETIA will
continue to grow in the fourth quarter of 2007 and in 2008;
-- Schering-Plough is confident in its key products; however, these
products face growing competition. Schering-Plough will invest in its
key brands to sustain their leadership position;
-- As Schering-Plough's pipeline continues to progress, it expects that
the number of patients in clinical trials will continue to in
|SOURCE Schering-Plough Corporation|
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