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Financial Report: Schering-Plough 1Q

Pharmaceutical sales were down 5% to $3.4 billion, reflecting operational growth of 5% and an unfavorable impact from foreign exchange of 10%. Sales of Remicade were $518 million (+2%).

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Schering-Plough 1Q

1Q Revenues: $4.4 billion (-6%)

1Q Earnings: $805 million (earnings were $314 million in 1Q08)

Comments: Pharmaceutical sales were down 5% to $3.4 billion, reflecting operational growth of 5% and an unfavorable impact from foreign exchange of 10%. Sales of Remicade were $518 million (+2%). Sales of Nasonex were flat at $306 million. Sales of Temodar were $247 million (+5%). Sales of Pegintron were down 4% to $216 million. Clarinex sales were $174 million (-19%). Sales of prescription Claritin were $132 million (+3%). Sales of the global cholesterol joint venture with Merck, which include Vytorin and Zetia, totaled $931 million. Schering-Plough does not record these sales, which are accounted for under the equity method.

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