KENILWORTH, N.J., Sept. 18 /PRNewswire-FirstCall/ -- Schering-Plough Corporation (NYSE: SGP) will provide a live audio webcast of a presentation by Alex Kelly, vice president, Investor Relations, speaking about the company at the Merrill Lynch Global Pharmaceutical, Biotech and Medtech Conference in London on Sept. 19, 2007, at approximately 9 a.m. (London) (approximately 4 a.m. EDT).
Kelly will be speaking on the company's financial performance and the planned acquisition of Organon BioSciences N.V. (OBS). He may also reiterate the company's outlook, as previously stated in the company's second quarter 10-Q, on the following:
-- Sales of VYTORIN and ZETIA are expected to grow in 2007. However,
there is growing competition for Schering-Plough's key brands;
-- Gross margin for the full year of 2007 is expected to improve versus
2006, primarily as a result of annual cost savings of approximately
$100 million expected from the company's manufacturing streamlining
actions in 2006 and improved product mix. However, gross margin in the
second half of 2007 is expected to be slightly lower than the first
half due to the seasonality of some respiratory products;
-- As Schering-Plough's pipeline continues to progress, the company
expects that the number of patients in its clinical trials will
continue to increase in the remainder of 2007. R&D expenses, excluding
any upfront payments, are expected to continue to grow faster than
adjusted net sales in 2007. Adjusted net sales is defined as net sales
plus an assumed 50 percent of the global cholesterol joint venture net
-- The company'
|SOURCE Schering-Plough Corporation|
Copyright©2007 PR Newswire.
All rights reserved