Schering-Plough Corp. (SGP) is gearing up for the potential launch of a new antipsychotic drug.
The Kenilworth, N.J., drug maker recently told employees it will probably hire a small number of new workers for the launch of asenapine - under the proposed brand name Saphris - which is currently under review by U.S. regulators. Merck & Co. (MRK), Whitehouse Station, N.J., which agreed in March to acquire Schering- Plough in a cash-and-stock deal then valued at about $41 billion, disclosed Schering's hiring plans in a regulatory filing Friday.
The hirings would be notable because the merger partners said in March they would institute hiring freezes in connection with their pending combination, which is expected to close by the end of this year. Merck has said it expects to then reduce the combined entity's work force by about 15%, or nearly 16,000 employees.
The exception to the current hiring freeze is for "critical business needs," according to Merck's regulatory filing, and Schering's potential new hires for asenapine would fall into this category.
"There are various positions you might need to fill even in the planning, pre- launch" phase, said Schering-Plough spokesman Robert Consalvo, who declined to specify the number of positions in question, or say when Schering expects a regulatory decision.
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