Kimono Openings at Schering

Executive Summary

Disclosure may be an unwelcome visitor at Big Pharma, but formerly secretive executives are growing used to its demands, with some SEC encouragement. A recent 8K filing by Schering-Plough was as revealing as it was unusual. The company's recently disclosed contract with Merck on the co-development and co-promotion of cholesterol-lowering agent ezetimibe (Zetia) looks like a poison pill that will discourage a takeover of Schering.