Rethinking Schering
Thursday, May 1st, 2008I started reading over the Schering-Plough (SGP: chart, web, Y!) 2007 financial report in an effort to do some more research.
Interestingly enough, I’m starting to rethink my position on Schering. SGP had really fallen out of favor with me since the whole Vytorin mess really blew up, and the stock price sunk to $13.83 per share for its 52 week lows.
After digesting some of the numbers though, I don’t think things look all that bad… at least not bad enough to justify the $18 share price.
Back in November of last year, Schering bought Organon BioSciences (OBS) for about $16.1 billion. Effectively, that entire acquisition …
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