GAAP net sales for the 2007 fourth quarter totaled $3.7 billion as
compared to $2.7 billion in the fourth quarter of 2006. Adjusted net sales
(GAAP net sales plus an assumed 50 percent of global cholesterol joint
venture net sales - see table below on page 19 and hereinafter referred to
as "adjusted sales") would have totaled $4.4 billion. Schering-Plough does
not record sales of its cholesterol joint venture with Merck & Co., Inc.
(Merck), as the venture is accounted for under the equity method.
The 2007 full year was significant for many important achievements:
-- Completing the acquisition of Organon BioSciences N.V. for
approximately 11 billion euro, thus adding new categories - women's
health and anesthesia/psychiatry - and making Schering-Plough one of
the world's leading animal health companies;
-- Growing cholesterol franchise sales to $5.2 billion in 2007, with U.S.
sales up 26 percent and international sales up 70 percent;
-- Growing sales by double digits in each major customer segment -
Prescription Pharmaceuticals, Consumer Health Care and Animal Health;
-- Gaining strength in global markets, with sales in international markets
representing more than 60 percent of total GAAP net sales;
-- Continuing to expand the company's businesses with new products and
indications while extending its presence in fast-growing emerging
markets, such as China, Brazil and Russia;
-- Strengthening the research pipeline with new compounds and by advancing
development to Phase III of such agents as a thrombin receptor
antagonist (TRA) for atherothrombosis and vicriviroc for HIV; both are
among the company's four compounds designated "fast track" by the U.S.
Food and Drug Administration (FDA); and
|SOURCE Schering-Plough Corporation|
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