ADVFN - Advanced Financial Network.
HOME» NYSE » S » SGP Stock Price » SGP Stock News

Schering Plough Share News

 Schering-plough Corp. Stock Price
SGP Stock Price
 Schering-plough Corp. Stock Chart
SGP Stock Chart
 Schering-plough Corp. Stock News
SGP Stock News
 Schering-plough Corp. Company Information
SGP Company Information
 Schering-plough Corp. Stock Trades
SGP Stock Trades

Merck 3Q Net More Than Triples On Gain; Boosts View

DOW JONES NEWSWIRES Merck & Co.'s third-quarter profit more than tripled as a gain from the sale of its stake in an animal-health joint venture masked the impact of generic competition on sales and continued weakness for the cholesterol drugs it sells jointly with merger partner Schering-Plough Corp. (SGP). But the drug maker's core results beat estimates, prompting it to boost the bottom end of its 2009 earnings target as it affirmed its revenue view. Merck's $49 billion acquisition of Schering which remains on track to close this quarter, stemmed from an effort to bolster and diversify its pipeline at a time of fierce generic competition, pricing pressure and challenges in bringing new drugs to market. To satisfy regulators, Merck sold its 50% stake in the Merial animal-health joint venture to partner Sanofi-Aventis SA (SNY) for $4 billion. It also has named the management team for the post-merger era, eyeing growth opportunities in emerging markets, biologics and vaccines. Merck's profit rose to $3.42 billion, or $1.61 a share, from $1.09 billion, or 51 cents a share, a year earlier. Excluding items, notably the Merial gain, earnings rose to 90 cents from 80 cents. Sales rose 1.8% to $6.05 billion, or 5% excluding foreign-exchange impacts. Analysts polled by Thomson Reuters were expecting earnings, excluding items, of 82 cents a share on revenue of $6.01 billion. Gross margin rose to 76.4% from 75.1%. Sales of the Gardasil cervical-cancer vaccine fell 22%. Merck has said it sees flat Gardasil sales in 2009. Last week, the Food and Drug Administration found Gardasil to be safe and effective in protecting males from genital warts. A panel of experts advising The Centers for Disease Control and Prevention is scheduled this week to decide whether to recommend its routine use in boys, a move that could lead states to mandate inoculation and may prompt health insurers to pay for it. Merck said its sales from Merck's cholesterol-drug joint venture with Schering-Plough fell 7%. The venture has been under pressure since an early 2008 study raised questions about the safety and effectiveness of the drugs Vytorin and Zetia. Asthma and allergy drug Singulair--Merck's biggest product--rose 5%. U.S. sales have been hurt by an over-the-counter version of rival drug Zyrtec by Johnson & Johnson (JNJ) as well as concerns about a Food and Drug Administration alert of a possible association between Singulair and suicide. Earlier Thursday, Schering-Plough reported profit fell 16% on increased charges and the drop in cholesterol-drug sales. -By Mike Barris, Dow Jones Newswires; 212-416-2330; mike.barris@dowjones.com

Stock News for Schering Plough (SGP)
DateTimeHeadline
11/03/200910:47:18Merck/Schering Cholesterol Drugs At Another Crossroads
11/02/200915:24:04FDA Says No To Application For Potential Lipitor/Zetia Combo
10/23/200904:20:25EU Clears Merck & Co To Buy Schering-Plough
10/22/200915:23:10US Drug Makers 3Q Helped By Cost Cuts, Major Product Sales
10/22/200910:23:05CORRECT: Schering-Plough 3Q Earnings Down 16% On Charges
10/22/200908:28:11Merck 3Q Net More Than Triples On Gain; Boosts View
10/22/200907:13:06Schering-Plough 3Q Earnings Down 16% On Charges

Schering Plough and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad