Schering-Plough: What Went Wrong, What to Do
Executive SummaryCEO Fred Hassan faults decentralization and financial over-management for much of Schering's trouble--including its inability to fix its manufacturing problems, its lack of oversight over its sales force, and its inadequate response to the competitive threat from Roche. Cutting costs further--as some analysts looking for short-term earnings growth would like to see--won't help. Instead, Hassan's investing-particularly in marketing-oriented clinical studies.
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Cultural transformation was the main topic of Warburg Pincus managing director Fred Hassan’s keynote talk at the Therapeutic Area Partnerships meeting on Nov. 19, where the audience also drew on the investor’s extensive track record leading some of pharma’s most successful turnarounds.