PharmaLive, in its "Only on PharmaLive" section, dissects the SCH-Merck reverse merger, franchise-by-franchise -- so do go read it all -- but here is a quote which would suggest we should believe Thomas Koestler, head of R&D at Schering-Plough Research Institute, when he tells us, in videotaped comments this week, that "one of the greatest challenges" will be to generate genuine "excitement" about this merger:
. . . .Outlook: Even if Schering-Plough’s late-stage pipeline fulfils its commercial potential, it is unlikely that it will be able to cover the gap left by the soon to be defuncthypertension franchise and the diminishing sales of Zetia and Vytorin. Hence, Merck’s original strong position in the cardiovascular arena will be diluted after the deal. In addition, the resulting company is expected to change its focus in the cardiovascular arena from primary care indications to indications mainly covered by specialists. . . .
Add to this, that spending in the US on DTC is down, industry wide, year-over-year, as are sales -- worldwide, especially at multi-nationals -- due to the dollar's rise, and the economic slowdown, worldwide. At least 70 percent of Schering-Plough's sales are exposed to the stronger dollar here in 2009. This bit both Abbott (yesterday), and Baxter (today). Ouch.
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