KENILWORTH, N.J., May 3 /PRNewswire-FirstCall/ -- Schering-Plough Corporation announced today the creation of a new "Schering-Plough Biopharma" unit. The new unit will capitalize on the company's historic strength in biotechnology. The Biopharma operations will be fully integrated with the core pharmaceutical research and development organization of the company in order to help assure a seamless and efficient overall product flow process.
Schering-Plough Biopharma will be formed through the integration of the company's two West Coast research facilities into one site, effective immediately. Schering-Plough has been maintaining two independent research facilities in California: Canji Inc. in San Diego, acquired in 1996, and DNAX Research Institute, Inc. in Palo Alto, acquired in 1982.
The new Biopharma unit will be based at the current DNAX laboratories in Palo Alto.
"By combining the Canji and DNAX groups to form Schering-Plough Biopharma, we are enhancing our historic strength in biotechnology. This new unit will increase our capabilities to deliver leading-edge medical innovations at a time when the importance of biotechnology in health care is rapidly accelerating," said Fred Hassan, chairman and chief executive officer, Schering-Plough Corporation. "It is our vision to become one of the top biopharma companies in the world, and this is another important step reflecting our long-term commitment to enhancing our global research capabilities in various therapeutic areas."
Schering-Plough also announced that DNAX president and chief executive officer, John Curnutte, M.D., Ph.D., has been appointed president, Schering- Plough Biopharma, and vice president, Schering-Plough Research Institute, reporting to Catherine D. Strader, Ph.D., executive vice president, discovery research, Schering-Plough Research Institute.
"We will be focusing our West Coast discovery capabilities in the area of biologics research, mainly monoclonal antibodies and therapeutic proteins, while we continue to build our East Coast resources in small molecule discovery at our research sites in New Jersey and Cambridge, Mass.," said Dr. Strader.
The company plans to offer all full-time Schering-Plough employees at the Canji site positions within Schering-Plough Biopharma in Palo Alto. The company hopes to have the integration fully operational by the end of the third quarter of this year.
DISCLOSURE NOTICE: The information in this press release includes certain "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995, including the discovery capabilities of Schering-Plough and the timing of the anticipated turnaround. Schering-Plough does not assume any obligation to update any forward-looking statement. Actual results may vary materially from forward-looking statements due to many factors, including competition, market conditions and regulations. For further details about these factors and other risks and uncertainties that may impact Schering- Plough's forward-looking statements, see Schering-Plough's Securities and Exchange Commission filings, including the company's third quarter 2004 10-Q.
Schering-Plough is a global science-based health care company with leading prescription, consumer and animal health products. Through internal research and collaborations with partners, Schering-Plough discovers, develops, manufactures and markets advanced drug therapies to meet important medical needs. Schering-Plough's vision is to earn the trust of the physicians, patients and customers served by its more than 30,000 people around the world.
The company is based in Kenilworth, N.J., and its Web site is http://www.schering-plough.com/.