Friday, January 25, 2008

Whytorin - Spotlight on Schering Plough's Fred Hassan

Forbes' Matt Herper looks closely at Fred "Mr Fix It" Hassan, Schering Plough's mercurial CEO - and why the ENHANCE data took two years to surface.

Hassan's defense?

Schering didn't mean to do anything wrong, and he doesn't know exactly what went wrong. "I'm quite sure nobody had bad intentions," says Hassan, 62. "Why didn't it happen on time as it should have? I don't have the answers."

The excuses are thin.

Either Schering deliberately delayed a result it suspected would be bad or Hassan's team incompetently failed to realize that they were sitting on a time bomb. Since FORBES' first report on Nov. 19, Schering shares have given up 12 months of gains.


pic - apologies to Chris Mueller/Redux for Forbes

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