KENILWORTH, N.J., April 24 /PRNewswire-FirstCall/ -- Schering-Plough Corporation announced today that Chairman and CEO Fred Hassan purchased just over $2 million of Schering-Plough common stock, or 110, 000 shares at an average purchase price of $18.26 per share.
“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,” said Hassan.
Hassan has said on January 18 that he intended to purchase the shares as soon as the transaction received legal clearance. That clearance was issued this morning, based upon first quarter earnings having been reported yesterday.
Full details of the purchase will be reported on a Form 4 filed with the SEC and available on Schering-Plough’s Web site today or tomorrow.
Schering-Plough is an innovation-driven, science-centered global health care company. Through its own biopharmaceutical research and collaborations with partners, Schering-Plough creates therapies that help save and improve lives around the world. The company applies its research-and-development platform to human prescription and consumer products as well as to animal health products. Schering-Plough’s vision is to “Earn Trust, Every Day” with the doctors, patients, customers and other stakeholders served by its colleagues around the world. The company is based in Kenilworth, N.J., and its Web site is www.schering-plough.com.
CONTACT: Media, Rosemarie Yancosek, +1-908-298-7476; or Investor, Alex
Kelly, or Joe Romanelli, +1-908-298-7436, all for Schering-Plough
Corporation
Web site: http://www.schering-plough.com//
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