Schering-Plough Highlights R&D Pipeline Progress, Innovation and Breadth of Research Projects
KENILWORTH, N.J., November 24, 2008 /PRNewswire-FirstCall/ -- Leaders of Schering-Plough Corporation today provided an update for investors on the company's research pipeline, highlighting a rich and innovative portfolio that includes 46 new entities in clinical trials or under regulatory review and 29 in preclinical studies.
"Research and development is adding strength and breadth to Schering-Plough as we continue our transformation," said Fred Hassan, chairman and CEO. "Our scientists have built a pipeline that we believe is the best in our history and one of the best in the industry, with nine new molecular entities (NMEs) in Phase III plus three in pre-registration." He said the new medicines that emerge from this pipeline will join a geographically diverse portfolio, with expected market exclusivity for most key prescription products continuing well into the next decade.
"Our goal remains the same: Deliver high performance for the long term," said Hassan. "We believe that having this robust pipeline, including several potential first-in-class and/or best-in-class compounds, is a key step toward achieving that goal."
Thomas P. Koestler, Ph.D., executive vice president and president of Schering-Plough Research Institute, said, "Our R&D innovation is visible in our pipeline projects, six of which have been designated 'fast track' by the U.S. Food and Drug Administration." He added, "We are pleased that R&D now has the potential to add enormous value to the company's already well-protected marketed product portfolio."
In reviewing the company's portfolio, presenters highlighted the following projects in the company's pipeline:
Presenters reviewed a range of other therapies in various stages of development in the company's six therapeutic areas: allergy/respiratory; cardiovascular/metabolic; central nervous system; immunology/infectious disease; oncology; and women's health.
Several earlier-stage research projects were also unveiled for the first time, including:
In Animal Health, the company highlighted its global leadership position and diverse portfolio and pipeline, with more than 120 small-molecule projects and 140 biological projects under way. The company also highlighted three growth corridors for Schering-Plough: companion animal; parasiticides; and geographic expansion in the U.S., Japan and emerging markets.
A replay of the webcast of Schering-Plough's "R&D Update" meeting is available by going to the Investor Relations section of the Schering-Plough corporate Web site, www.schering-plough.com, and clicking on the "Presentations/Webcasts" link. The replay will be available starting on Nov. 24 through 5 p.m. on Dec. 24.
DISCLOSURE NOTICE: The information in this press release, the comments of Schering-Plough speakers during the R&D Update meeting and webcast on Nov. 24, 2008, beginning at 8:30 a.m. (EST), and other written reports and oral statements made from time to time by the company may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and are based on current expectations or forecasts of future events. You can identify these forward-looking statements by their use of words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "project," "intend," "plan," "potential," "will," and other similar words and terms. In particular, forward-looking statements include statements relating to the company's plans; its strategies; its progress under the Action Agenda and anticipated timing regarding future performance of the Action Agenda; business prospects; anticipated growth; timing and level of savings achieved from the Productivity Transformation Program, including the ongoing integration of OBS; prospective products or product approvals; trends in performance; anticipated timing of clinical trials and its impact on R&D spending; anticipated exclusivity periods; actions to enhance clinical, R&D, manufacturing and post-marketing systems; and the potential of products and trending in therapeutic markets, including the cholesterol market. Actual results may vary materially from the company's forward-looking statements, and there are no guarantees about the performance of Schering-Plough stock or Schering-Plough's business. Schering-Plough does not assume the obligation to update any forward-looking statement. A number of risks and uncertainties could cause results to differ materially from forward-looking statements, including, among other uncertainties, market viability of the company's (and the cholesterol joint venture's) marketed and pipeline products; market forces; economic factors such as interest rate and exchange rate fluctuations; the outcome of contingencies such as litigation and investigations; product availability; patent and other intellectual property protection; current and future branded, generic or over-the-counter competition; the regulatory process (including product approvals, labeling and post-marketing actions); scientific developments relating to marketed products or pipeline projects; and media and societal reaction to such developments. For further details of these and other risks and uncertainties that may impact forward-looking statements, see Schering-Plough's Securities and Exchange Commission filings, including Part II, Item 1A. "Risk Factors" in the third quarter 2008 10-Q, filed October 29, 2008.
* SIMPONI is a trademark owned by Centocor, Inc. and licensed to Schering-Plough for use (subject to regulatory approval) with golimumab products in its territory (including the EU); the SIMPONI trademark is under regulatory review in the U.S.
** The SAPHRIS trademark is under regulatory review in the U.S.
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, animal health and consumer health care 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, Steve Galpin, Jr., +1-908-298-7415, or Gail Thornton,+1-908-298-5313, or Monique Mols, +31-622-990-575, or Investors, Janet M.Barth, or Joe Romanelli, +1-908-298-7436 (office), all for Schering-PloughCorporation
Web site: http://www.schering-plough.com/
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Posted: November 2008