Since the controversy over the ENHANCE trial and the drug Vytorin, Schering-Plough’s stock has taken a hit. On April 2nd, the company announced the launch of their productivity and transformation program to confront their new challenges. “We are taking the tough actions that are needed to respond to a tough situation,” said Fred Hassan, Chairman and CEO about the program. A day later, the company announce laying off 10% of their workforce, about 5,500 employees.

Although the media has certainly blown the results of the ENHANCE trial out of proportion, Schering-Plough should have been more transparent in the handling of the results, which were reportedly kept secret even from some of the key investigators involved in the study.

More info: Schering-Plough Press Release

Filed under: Pharma/Biotech