Financial Report: Schering-Plough

Schering-Plough

4Q Revenues: $2.7 billion (+14%)

4Q Earnings: $204 million (+62%)

FY Revenues: $10.6 billion (+11%)

FY Earnings: $1.1 billion (earnings were $269 million FY2005)

Comments: In the quarter, Remicade sales were up 34% to $337 million, Nasonex sales were up 37% to $253 million, Temodar sales grew 18% to $189 million and Clarinex sales were $164 million, up 18%. FY sales (excluding cholesterol joint venture sales) grew 11% versus 2005, with leading prescription products: Remicade up 32%, Nasonex up 28%, Peg-Intron up 11%, Temodar up 20%, and Clarinex/Aerius up 12%. Global cholesterol joint venture sales, which include Vytorin and Zetia, totaled $1.1 billion in the quarter, up 46% from 4Q2005. Schering-Plough does not record sales of its cholesterol joint venture with Merck as the venture is accounted for under the equity method. R&D spending for the quarter increased 33% to $631 million and for the year totaled $2.2 billion, up 17%. During the year, the company received FDA approval of Noxafil Oral Suspension, a novel triazole antifungal agent. Also, Temodal for malignant glioma was approved in Japan; Remicade for ulcerative colitis was approved in the EU; and Suboxone Sublingual Tablets were approved in the EU for opioid dependence.