Schering-Plough plans $1.5B cost cuts due to market pressures and cholesterol drug woes

US drug major Schering-Plough, in response to "dramatically intensifying pressures" on the pharmaceutical industry, especially in the USA, along with negative news on its cholesterol-lowering products Zetia (ezetimibe) and Vytorin (ezetimibe and simvastatin; see page 19), has revealed a "productivity transformation program" to reduce and avoid costs and increase productivity to generate annual savings of $1.5 billion. The firm notes that the previously-announced integration targets of $500.0 million relating to the acquisition of Organon Biosciences last year will be rolled into the PTP.