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Executive Summary

KEY's NITRO-DUR II RECEIVES ADDED BOOST FROM SCHERING SALES FORCE, which began detailing Key's new nitroglycerin patch even before the merger of the two companies was finalized on June 26. Commenting to analysts June 17 on the Schering/Key advance, Schering-Plough Chairman Robert Luciano noted: "With a larger total sales force, we can afford to specialize to a greater extent, and in selected instances put more force behind the introduction of new products." Luciano added: "A good example of this opportunity being put into practice is the fact that in mid-June, Schering's field force began to conpromote Key's Nitro-Dur II." The combination of the two sales forces puts approximately 1,100 detail people behind Nitro-Dur II sales in the U.S. The Key acquisition provides Schering with an additional 280 cardiovascular and allergy sales people on top of Schering's 800-plus U.S. detail force. Nitro-Dur II generated sales of $46 mil. in 1985 for Key. In addition to giving Schering a specialized cardiovascular and allergy field force, the Key merger also expands Schering's marketing capabilities enough to allow greater specialization within the Schering sales arm. Luciano noted that the company's launch of Intron-A is being supported with a newly formed anticancer/antiviral detail force Luciano also indicated plans to expand Key's sales force while giving Schering management tighter rein. "We will be moving Key's marketing organization from Florida up to New Jersey during the course of the summer, but it is our intention to keep the sales forces separate," Luciano remarked. "We expect to enlarge the Key field force and to utilize our two sales forces to concentrate on particular product areas, cardiovascular, allergy/asthma and cough/cold. When we want a major promotion . . . we'll have both sales forces detail the same product."

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