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Schering-Plough Reports Financial Results for First Quarter of 2008
Date:4/23/2008

e net sales, Schering- Plough's adjusted sales for the 2008 first quarter would have been $5.3 billion.

Overall, Schering-Plough shares in approximately 50 percent of the profits of the joint venture with Merck, although there are different profit-sharing arrangements for the cholesterol products in countries around the world. Schering-Plough records its share of the income from operations in "Equity income," which totaled $517 million in the 2008 first quarter, an increase of 6 percent versus $487 million in the first quarter of 2007. Schering-Plough noted that it incurs substantial costs such as selling, general and administrative costs that are not reflected in "Equity income" and are borne by its overall cost structure. There is a separate co-marketing agreement with Bayer for ZETIA in Japan, where the product was launched in June 2007.

Sales of Global Pharmaceuticals for the 2008 first quarter totaled $3.6 billion. Included in the first quarter of 2008 are $861 million in net sales related to Organon, the OBS human health business acquired in 2007.

Sales of REMICADE increased 36 percent to $507 million in the first quarter of 2008 due to continued market growth and expanded use. REMICADE is a treatment for inflammatory diseases that Schering-Plough markets in countries outside the United States (except in Japan and certain other Asian markets) for rheumatoid arthritis, early rheumatoid arthritis, ankylosing spondylitis, psoriatic arthritis, plaque psoriasis, Crohn's disease, pediatric Crohn's disease and ulcerative colitis.

Global sales of NASONEX, an inhaled nasal corticosteroid for allergies, rose 8 percent to $307 million versus the 2007 period, due to increased sales in international markets, partially offset by a decline in sales in the United States.

Sales of TEMODAR, a treatment for certain types of brain tumors, grew 20 percent to $236 million due to increased sales across all geographic regions.

Sales of PEGINT
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SOURCE Schering-Plough Corporation
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