Schering-Plough reports higher drug sales

Share this article:
Boosted by double-digit gains in five drugs beyond its cholesterol joint venture, Schering-Plough posted a 62% increase in fourth-quarter profit. The company recorded net income of $204 million, or 12 cents a share, up from $126 million, or seven cents a share, a year earlier. Sales rose 14% to $2.65 billion, beating the average analyst estimate of $2.5 billion. Figures show Schering-Plough is performing well across several businesses. Cholesterol drugs Vytorin and Zetia, jointly marketed with Merck, jumped 47% to $1.11 billion. Equity income from the venture rose 50% to $403 million from $268 million. Sales of arthritis drug Remicade, which Schering-Plough markets ex-US, increased 34% to $337 million. Worldwide sales of allergy drug rose Nasonex rose 37% to $253 million, with US sales up 48%. Sales of Temodar, a treatment for brain tumors, climbed 18% to $189 million, while sales of allergy treatment Clarinex rose 18% to $164 million. Sales of heart medication Integrilin increased 20% to $85 million. Sales of the Peg-Intron hepatitis C product slid 3% to $208 million due primarily to a drop in sales in Japan. Under third-year Chief Executive Fred Hassan, Schering-Plough has upped R&D spending 33% to $631 million, from $474 million a year ago. But analysts say Hassan will face increasing pressure to diversify the revenue base with new products and possibly an acquisition.
Share this article:

Email Newsletters

More in News

Lack of marketing partner delays Afrezza launch

Lack of marketing partner delays Afrezza launch

Afrezza was heralded as one of the most innovative diabetes products of the last decade. So, why hasn't MannKind set a firm launch date for the product?

In sunny world of LASIK marketers, a dark underbelly

In sunny world of LASIK marketers, a dark ...

Last week, the former FDA branch chief who originally approved LASIK machines asked FDA to reconsider its denial last month of his petition to ban these devices.

BMS Q2 sales slip, Eliquis, Yervoy soar

BMS Q2 sales slip, Eliquis, Yervoy soar

The company attributed part of the Eliquis boost to the BMS-Pfizer DTC and education efforts.