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Financial Report: Schering-Plough 2Q

Pharmaceutical sales were down 3% in the quarter to $3.6 billion, reflecting 7% operational growth and an unfavorable impact from foreign exchange of 10%.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Schering-Plough 2Q

2Q Revenues: $4.6 billion (-6%)

2Q Earnings: $671 million (+45%)

YTD Revenues: $9.0 billion (-6%)

YTD Earnings: $1.5 billion (+90%)

Comments: Pharmaceutical sales were down 3% in the quarter to $3.6 billion, reflecting 7% operational growth and an unfavorable impact from foreign exchange of 10%. Remicade sales were $565 million (+2%). Nasonex sales were up 3% to $321 million. Sales of Temodar were $256 million (+2%). Sales of Pegintron were down 6% to $215 million. Clarinex sales were $226 million (-6%). Sales of Claritin were $96 million (-13%). Combined sales of Zetia and Vytorin in the cholesterol joint venture with Merck, were $1.0 billion (-10%). R&D expenses were $863 million in the quarter (-5%). Earnings exclude purchase accounting adjustments related to the Organon acquisition and special, merger- and acquisition-related items.

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