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Schering-Plough Reports Financial Results for Third Quarter of 2007

opments that have previously been announced, including:

-- Reported results from a Phase II clinical trial showing that

vicriviroc, the company's investigational CCR5 antagonist, demonstrated

potent and sustained viral suppression through 48 weeks of therapy in

treatment-experienced HIV patients. (Announced July 24)

-- Continued development of the company's new Pharmaceutical Sciences

Center in Summit, N.J. (Announced July 25)

-- Announced the dissolution of the Consent Decree of Permanent Injunction

by the U.S. District Court for the District of New Jersey (Newark).

(Announced Aug. 2)

-- Completed three significant financing rounds in conjunction with the

planned acquisition of Organon BioSciences N.V., including:

-- a registered public offering of 57.5 million common shares

(approximately $1.5 billion) and a registered public offering of

$2.5 billion of mandatory convertible preferred stock (announced

Aug. 9);

-- a $1 billion 10-year U.S. bond offering and a $1 billion 30-year

U.S. bond offering (announced Sept. 12); and

-- a 1.5 billion Euro seven-year bond offering and a 500 million Euro

three-year bond offering (announced Sept. 26).

-- Schering-Plough/Merck Pharmaceuticals announced that a New Drug

Application filing for loratadine/montelukast has been accepted by the

FDA for standard review for treatment of allergic rhinitis symptoms in

patients who want relief from nasal congestion. (Announced Aug. 28)

-- Announced that all of Schering-Plough's outstanding 6% mandatory

convertible preferred stock issued in 2004 converted into shares of its

common stock on Sept. 14, 2007. (Announced Sept. 13)

-- Announced the initiation of two large Phase III clinical studies with

vicriviroc, the company's investiga

SOURCE Schering-Plough Corporation
Copyright©2007 PR Newswire.
All rights reserved

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