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Animal health to contribute to SP cost cutting

The chairman and CEO of Schering-Plough, Fred Hassan, has said that no part of the company will be exempt from its drive to make savings of $1.5b. This sum is 10% of the company's 2007 costs. The company's 2007 purchase of Organon BioSciences, including Intervet, last year, is expected to generate $500m in savings through synergies, and this sum will be included in the cost cutting target.

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