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Schering-Plough Reports Financial Results for 2007 Fourth Quarter, Full Year
Date:2/12/2008

or 12 cents per common share on a GAAP basis and 17 cents per common share when excluding other specified items.

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


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SOURCE Schering-Plough Corporation
Copyright©2008 PR Newswire.
All rights reserved

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