Schering-Plough CEO Buys $4.68 Million of Company Common Stock

Schering-Plough Corporation, maker of Coppertone Sunscreen and Claritin allergy medication, announced that Fred Hassan, chairman and chief executive officer, purchased $4.68 million worth of Schering-Plough common stock, representing 303,500 shares.

Mr. Hassan had previously expressed his intention to acquire shares of the company, as reported in Investor Frequently Asked Questions filed with an 8-K/A with the U.S. Securities and Exchange Commission on Aug. 13, 2003. “This investment in Schering-Plough reflects my long-term confidence in the company,” said Mr. Hassan. He noted that within a few months of joining Pharmacia & Upjohn in 1997 he had purchased an amount of that company’s common shares. Mr. Hassan joined Schering-Plough in April 2003.

“As we said at last week’s meeting with analysts and investors, there are still significant challenges facing Schering-Plough, but I firmly believe this company can be turned around and become a highly competitive global organization that should be capable of producing long-term growth,” said Mr. Hassan.