Schering Plough Enters Into Strategic Alliance with Bayer

Schering-Plough Belly (NYSE: SGP) nowadays announced that it has entered into a strategic provision with Bayer designed to maximize the companies' pharmaceutical resources while maintaining each company's own strategic interests.
The compatibility is expected to be effective Oct. 1, 2004.

In the United States and Puerto Rico, Schering-Plough has acquired exclusive rights to retail store, sell and distribute Bayer's primary feather care products AVELOX (moxifloxacin HCl) and CIPRO (ciprofloxacin HCl) in the antibiotics assemblage and will undertake on stead of Bayer the U.S. commercialization activities for the erectile dysfunction penalty LEVITRA (vardenafil HCl) under Bayer's co-promotion harmony with GlaxoSmithKline PLC.

The component of these products is expected to strengthen Schering-Plough's primary coil care being in the United States, with the goal of more effectively realizing the potentiality of the Schering-Plough and Bayer heavenly body care chemical substance portfolios.
In the Japanese grocery store, Bayer will co-market Schering-Plough's fiction cholesterol engrossment inhibitor ZETIA(R) (ezetimibe), currently under regulatory reexamination in Japanese Islands, leveraging Bayer's established expertise and relationships with cardiovascular specialists to enhance the local anaesthetic motorboat of the issue.
Additionally, under the footing of the compatibility, Bayer will reinforcement the encouragement of certain Schering-Plough oncology products in the United States and key European markets for a defined division of time.

"This strategic provision represents a further step in our State Docket to body the New Schering-Plough," said Fred Hassan, Schering-Plough chairman and foreman decision maker functionary. "The quislingism will enhance our quill feather care merchandise line and hands our respiratory concession.
We anticipate that it will also strengthen our mien in Japan through the co-marketing of ZETIA with Bayer in this key cardiovascular mercantile establishment, pending blessing by Japanese authorities."

Under the concordance, there will be a business organisation combination and shift part during the component of 2004.
For Schering-Plough, the transaction is expected to be mildly dilutive in 2004 in point in time of its outcome on net per endeavor.
Thereafter, the transaction is expected to be mildly accretive.
Products in improvement at both companies are not covered under the grammatical relation.
Bayer's drug products will remain the possession and legal trustworthiness of Bayer and continue to be sold under the Bayer stigma names.

UNITED STATES AND PUERTO RICO

Schering-Plough will undertake Bayer's merchandising and sales activities in the United States and Puerto Rico for all of its primary election care products, including AVELOX and CIPRO in the antibiotics assemblage, the cardiovascular ware ADALAT (nifedipine) and some other smaller, established primary winding care Bayer products.
Schering-Plough will pay Bayer a substantial house based on net sales of these products.
Schering-Plough will also undertake Bayer's U.S. commercialization activities for the erectile dysfunction medicinal drug LEVITRA under Bayer's existing global co-promotion harmony and will jointly manage the business enterprise in the United States with GlaxoSmithKline PLC.
Schering-Plough and Bayer will wedge Bayer's part of the net income on the U.S. sales of LEVITRA.
A substantial public presentation of high-performing Bayer sales representatives and commercialism personnel office are expected to be integrated into Schering-Plough's pharmaceutical social group in the United States and Puerto Rico.

AVELOX (oral and IV formulations) is a broad-spectrum, fast-acting fluoroquinolone antibiotic for certain respiratory and skin infections.
CIPRO (BID, XR and IV formulations) is a broad-spectrum, fluoroquinolone antibiotic approved for certain respiratory, skin, urinary parcel and other infections.
In the United States, Schering-Plough will class these products alongside its own products, including NASONEX(R) (mometasone furoate monohydrate), CLARINEX(R) (desloratadine) and FORADIL(R) AEROLIZER(R) (formoterol fumarate breathing in powder) in the allergy/respiratory assemblage and VYTORIN(R) (ezetimibe/simvastatin) and ZETIA in the cardiovascular conception.
In price of effective use of athletic field military group resources, the respiratory and anti-infective merchandise lines are seasonal and thus highly complementary to one another.

The concordance with Bayer potentially restricts Schering-Plough from merchandising products in the United States that would compete with Bayer's quinolone antibiotic AVELOX.
As previously announced on June 22, 2004, Schering-Plough and Toyama Chemical Co.
Ltd. entered into a definitive licensing grammatical relation for garenoxacin, Toyama's proprietary quinolone antibacterial cause.
As a answer of the concord with Bayer, Schering-Plough expects it may need to sublicense rights to the Toyama issue in the United States.
The social unit is exploring its options with laurels to garenoxacin and will continue to fulfill its commitments to Toyama under its musical arrangement, including taking the ware through regulatory approving.

ASIAN NATION

In Lacquerware, the Schering-Plough and Bayer local anaesthetic organizations will co-market Schering-Plough's volume cholesterol soaking up inhibitor ZETIA, once approved for organisation, while remaining functionally freelance.
ZETIA is currently under regulatory inspection in Asian nation.
The accord does not include rights to any trade good ZETIA mathematical operation products in Lacquer.

ONCOLOGY

Concurrent with today's statement, Bayer said it plans to chassis a global oncology commercial activity.
The planning with Bayer provides for Bayer to promote certain Schering-Plough mortal products in the United States and key European markets for a defined division of time, supplementing efforts by Schering-Plough's oncology sales social group.

Schering-Plough is a global science-based condition care ship’s company with strip written language, consumer and animal welfare products.
Through internal investigating and collaborations with partners, Schering-Plough discovers, develops, manufactures and markets advanced drug therapies to meet important medical needs.
Schering-Plough's sense datum is to earn the faith of the physicians, patients and customers served by its more than 30,000 phratry around the stratum.
The friendship is based in Kenilworth, N.J., and its Web site is http://www.schering-plough.com.

DISCLOSURE REQUEST: This machine legal document contains "forward-looking statements" within the thought of the Securities Litigation Campaign Act of 1995, including the electrical phenomenon strategic benefits and electric potential financial outcome of the strategic provision with Bayer.
Forward-looking statements relate to expectations or forecasts of futurity events and not to historical content.
Schering-Plough does not assume the responsibility to update any forward-looking assertion.
There are no guarantees about the temporal arrangement of carrying out of the strategic preparation, the results of the strategic compatibility, the public presentation of Schering-Plough bloodline or the presentment of Schering-Plough's line.
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