Schering-Plough

4Q Revenues: $4.3 billion (+17%)

4Q Earnings: $480 million (loss of $3.3 billion in 4Q07)

FY Revenues: $18.5 billion (+46%)

FY Earnings: $1.6 billion (loss of $1.6 billion FY07)

Comments: Sales of Remicade were $491 million in the quarter (+8%) and $2.1 billion for the year (+28%). Sales of Temodar were up 4% to $242 million in the quarter and $1.0 billion for the year (+16%). Global sales of Nasonex were $280 million in the quarter (+3%) and $1.2 billion for the year (+6%). Sales of Pegintron were $225 million in the quarter (-6%) and flat at $914 million for the year. Sales of Clarinex in the quarter were $160 million (-8%) and $790 million for the year (-1%). Vytorin and Zetia sales totaled $1.1 billion in the quarter (-26%). SP does not record these sales directly, as the venture is accounted for under the equity method of its cholesterol JV with Merck. R&D expenses were $850 million in the quarter (flat) and $3.5 billion for the year (+21%), which includes $21 million and $197 million, respectively, related to upfront R&D payments. Sales for the quarter and year include Organon BioSciences (OBS) products, representing $1.3 billion and $5.4 billion, respectively. Results in 2007 were impacted by $3.8 billion of acquired in-process R&D charges related to the purchase of OBS.