Skip navigation
MOST POPULAR RELATED TAGS
  • TOPICS
  • SECTORS
  • COMPANIES

MAD MONEY FEATURES

Podcasts PODCASTS
Watch the Lightning Round whenever and wherever you want.




Widget OFFICIAL MAD MONEY WIDGET
Grab this all-in-one application and get recaps of the show sent right to your desktop or blog.




Soundboard CRAMERS SOUNDBOARD
Admit it: You've always wanted to hit the "They
know nothing!" button. Here’s your chance.




Mad Money PhotosCHECK OUT OUR PHOTOS
Check out Cramer on set, back to school, behind the scenes and more.




ShopSHOP FOR MAD MERCHANDISE
Buy Cramer books, bobbleheads and other Mad Money merchandise.




Ringtones RING TONES
Pick up the phone! It's Cramer! New Mad Money sounds for your cell phone.




Mobile AlertTEXT MESSAGE ALERT
Mad Money's mobile. Get show highlights sent to your phone.







Text Size
Mar.31
6:59 PM ET
Monday, 31 Mar 2008
Schering CEO Speaks on Vytorin

So much for “open scientific discourse.” That’s what Schering-Plough CEO Fred Hassan said he was expecting from experts at an American College of Cardiology conference in Chicago this past weekend. Instead the panel, discussing the study results of cholesterol drug Vytorin, announced that older treatments, and other generic drugs, were more effective.

According to at least one account, the question-and-answer that was supposed to follow the presentation of the study’s data never came. And that’s what has Schering’s [SGP  Loading...      ()   ] Hassan so upset: The study results were known before the conference, but they were never discussed in an “open scientific forum” as originally planned. “Had there been such a process,” Hassan said, “and had there been convergence and consensus after that, we’d be fine with that. But that never happened.” The CEO said his company’s still looking for the chance to openly discuss the study’s results.

“We stand behind our science,” Hassan said. “We stand behind our product.”

Schering-Plough and Merck [MRK  Loading...      ()   ], the partner in the Vytorin joint venture, plummeted during Monday trading, dropping 26% and 15%, respectively. Cramer called it “a disaster of unfathomable proportions.”

So how do you trade it? Cramer, whose charitable trust owns SGP, said the stock’s cheap, but, “You have to make up your own mind.”

“When someone’s been as wrong as I’ve been on Schering,” Cramer said, “you have to do your own work.”

Watch the full interview with Schering-Plough CEO Fred Hassan.

Jim's charitable trust owns Schering-Plough

Questions for Cramer?

Questions, comments, suggestions for the Mad Money website?

© 2009 CNBC, Inc. All Rights Reserved

Tools:
PrintEmailAdd This share icon
Next Post
  • digg share
ADD COMMENTS
Remaining characters


Current DateTime: 01:06:31 28 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:03:47 28 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:03:47 28 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:06:07 28 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters