02.12.08
Schering-Plough
4Q Revenues: $3.7 billion (+41%)
4Q Loss: $3.3 billion (earnings were $204 million in 4Q06)
FY Revenues: $12.7 billion (+20%)
FY Loss: $1.5 billion (earnings were $1.1 billion FY06)
Comments: Global pharmaceutical sales for the quarter totaled $3.0 billion (+34%). Growth in the quarter was driven by Remicade sales, up 35% to $455 million; Nasonex sales, up 7% to $271 million; Sales of Pegintron, up 15% to $239 million; Temodar sales, up 23% to $234 million; Clarinex sales, up 6% to $174 million; and Avelox sales, up 12% to $115 million. For the year Global pharmaceutical sales were $10.2 billion (+19%). Global cholesterol joint venture sales, which include Vytorin and Zetia, totaled $1.4 billion in the quarter and $5.2 billion for the year, with FY U.S. sales up 26% and international sales up 70%. Schering-Plough does not record sales of its cholesterol joint venture with Merck and incurs substantial costs related to the venture, such as selling, general and administrative costs. 4Q and FY sales both include $626 million of Organon BioSciences (OBS) net sales for the period subsequent to the acquisition closing date. Results in the quarter and FY include special and acquisition related charges of $52 million and $84 million, respectively, related to the OBS acquisition. R&D expenses were $855 million in the quarter (+35%) and $2.9 billion for the year (+34%). Acquired in-process R&D for the quarter and FY include a charge of $3.8 billion related to the OBS acquisition. 4Q and FY R&D expenses also include $21 million and $197 million, respectively, related to upfront R&D payments.
4Q Revenues: $3.7 billion (+41%)
4Q Loss: $3.3 billion (earnings were $204 million in 4Q06)
FY Revenues: $12.7 billion (+20%)
FY Loss: $1.5 billion (earnings were $1.1 billion FY06)
Comments: Global pharmaceutical sales for the quarter totaled $3.0 billion (+34%). Growth in the quarter was driven by Remicade sales, up 35% to $455 million; Nasonex sales, up 7% to $271 million; Sales of Pegintron, up 15% to $239 million; Temodar sales, up 23% to $234 million; Clarinex sales, up 6% to $174 million; and Avelox sales, up 12% to $115 million. For the year Global pharmaceutical sales were $10.2 billion (+19%). Global cholesterol joint venture sales, which include Vytorin and Zetia, totaled $1.4 billion in the quarter and $5.2 billion for the year, with FY U.S. sales up 26% and international sales up 70%. Schering-Plough does not record sales of its cholesterol joint venture with Merck and incurs substantial costs related to the venture, such as selling, general and administrative costs. 4Q and FY sales both include $626 million of Organon BioSciences (OBS) net sales for the period subsequent to the acquisition closing date. Results in the quarter and FY include special and acquisition related charges of $52 million and $84 million, respectively, related to the OBS acquisition. R&D expenses were $855 million in the quarter (+35%) and $2.9 billion for the year (+34%). Acquired in-process R&D for the quarter and FY include a charge of $3.8 billion related to the OBS acquisition. 4Q and FY R&D expenses also include $21 million and $197 million, respectively, related to upfront R&D payments.