KENILWORTH, N.J., June 21 /PRNewswire-FirstCall/ -- Schering-Plough Corporation (NYSE: SGP - News) today announced that it will establish Schering-Plough Produtos Farmaceuticos Limitada as a wholly owned country operation based in Sao Paulo to market its core products, and will restructure its agreement with Mantefarma, a privately held company in Brazil.
“The actions announced today are part of Schering-Plough’s long-term global geographic expansion strategy,” said Fred Hassan, chairman and chief executive officer, Schering-Plough Corporation. “Investing in the Latin America region and other emerging markets represents another step in our journey to transform Schering-Plough into a global, high-performance health care company.”
Schering-Plough entered into an agreement in 1991 with Mantefarma to market and distribute several products through Industria Quimica e Farmaceutica Schering-Plough, S.A. Under a new agreement, Mantefarma, which will now be known as Mantecorp, will continue to manufacture a number of Schering-Plough primary care products.
Miguel Porto has been appointed general manager of Schering-Plough Produtos Farmaceuticos Limitada, and will report to Pierre Verstraete, group vice president and president, Latin America Region. Prior to this position, Porto was vice president, Operations for the Latin America and Asia Pacific Regions.
Schering-Plough Produtos Farmaceuticos Limitada will assume commercial responsibility for Schering-Plough specialty care products, including PEG-INTRON® (peginterferon alfa-2b), TEMODAL® (temozolomide) and CAELYX® (pegylated liposomal doxorubicin HCl). The company also will market the primary care products ZETIA® (ezetimibe), ZETSIM® (ezetimibe/simvastatin), CLARITIN® (loratadine), CLARINEX® (desloratadine) and NASONEX® (mometasone furoate monohydrate).
In addition, Schering-Plough Animal Health, known locally as Schering-Plough Saude Animal Industria e Comercio Limitada, is based in Sao Paulo. Schering-Plough Saude Animal Industria e Comercio Limitada, a wholly owned, separate country operation and legal entity, has operated for over 50 years, employs more than 150 people, and offers a wide range of veterinary products. Additionally, 18 people are employed in Schering-Plough’s research and development operation, also based in Sao Paulo.
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 32,000 people around the world. The company is based in Kenilworth, N.J., and its Web site is http://www.schering-plough.com.
SCHERING-PLOUGH 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 statements relating to the Company’s strategy. Forward-looking statements relate to expectations or forecasts of future events. Schering-Plough does not assume the obligation to update any forward-looking statement. Many factors could cause actual results to differ materially from Schering-Plough’s forward looking statements, including market forces, economic factors, product availability, patent and other intellectual property, current and future branded, generic or over-the-counter competition, the regulatory process, and any developments following regulatory approval, among other uncertainties. For further details about these and other factors that may impact the forward-looking statements, see Schering-Plough’s Securities and Exchange Commission filings, including Item 1A. Risk Factors in the Company’s 2005 10-K.
Source: Schering-Plough Corporation
