Former Schering-Plough CEO Speaks Out on M&As
Former Schering & Plough CEO Fred Hassan has spoken of the "plethora of financial pressures and resistance" he faced during Merck & Co. acquisition of his company, but indicates that more mergers and acquisitions should be expected throughout 2010.
In an interview with Meettheboss.tv, Hassan says, "We were under a financial challenge in the sense that the major businesses were going down. Part of that financial challenge ... was a cash flow challenge. It is something which is not seen very often in pharmaceutical companies. But this company was looking at a big cash burn, and something had to be done about it very quickly."
But Hassan also warns that short term gains will not always lead to long-term prosperity. "Does [the object of the target company] fit the next stage of strengths, weaknesses, opportunities and threats that my company has at present? Does it fit the strategy?" he asks. Click here for the interview.
Supply Chain Strategy: Managing risk and opportunity in a changing global landscape