Schering litigation reserves
Executive Summary
Schering-Plough sets aside additional $350 mil. in litigation reserves for investigations by Boston and Philadelphia U.S. Attorneys into marketing and PBM contracting practices. Additional amount brings total reserve to $500 mil. (1"The Pink Sheet" March 3, 2003, p. 4). Increase "reflects maturing discussions with those offices, particularly with the Eastern District of Pennsylvania," CFO Jack Wyszomierski says Oct. 22. "The increase in reserves represents an adjustment to the estimated minimum liability relating to the investigations"...
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