There is very little lipstick left on this particular pig, one that Fred Hassan, and Carrie Cox, and Bob Bertolini, and Raul Kohan, and Brett Saunders. . . and Tom Sabatino all tricked Merck into kissing — to the tune of $49 billion, about a year and a quarter ago.
To prove this point, I’ve updated the “Hassan Hangovers” Table — and rechristened it the New Merck “We’ve Overpaid!” Table.
However, the narrow format here wreaks havoc with the table layout, so do go see it at my original site. Then come back here. Okay? Okay.
Back now? Very well — thus, all in, this table likely represents more than $20 billion of “lost” opportunities [if we were to believe, at face value, the prior “puffing” statements of the various Schering-Plough senior executives — Hassan, Cox, Bertolini, Kohan, Saunders and Sabatino]. Sheesh. Truly unfortunate.