Schering-Plough Reports Financial Results for 2009 Seco...(rter of 2009 a 13 percent decrease versu...)
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Schering-Plough Reports Financial Results for 2009 Second Quarter
Date:7/21/2009
rter of 2009, a 13 percent decrease versus the second quarter of 2008 primarily due to the impact of foreign exchange and the company's Productivity Transformation Program (PTP).
Research and development spending for the 2009 second quarter totaled $863 million, a 5 percent decrease, primarily due to the impact of foreign exchange.
Recent Developments
In addition to the regulatory and pipeline advances discussed above, the company also offered the following summary of recent significant developments that have previously been announced, including:
- Presented Phase II results of the HCV SPRINT-1 study showing that boceprevir, an oral hepatitis C protease inhibitor, in combination with peginterferon alfa-2b and ribavirin significantly increased sustained virologic response compared to current standard of care. (Announced April 23)
- Announced changes to the company's global collaboration with Novartis for the development and commercialization of fixed-dose combination therapies for the treatment of asthma and chronic obstructive pulmonary disease. (Announced May 19)
- Reported that Johnson & Johnson, as a result of the proposed merger between Schering-Plough and Merck, has initiated arbitration proceedings relating to Schering-Plough's rights to REMICADE and SIMPONI. (Announced May 27)
- Announced that the EMEA had accepted for review the Marketing Authorization Application for SYCREST (asenapine) sublingual tablets for the treatment of schizophrenia and manic episodes associated with bipolar I disorder. (Announced June 2)
- Reported findings from extensions of two Phase III studies showing that subcutaneous injections of SIMPONI every four weeks provided persistent improvements in the signs and symptoms in patients with psoriatic arthritis and ankylosing spondylitis. Separately, a new analysis was reported sho
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