Net Income $589 $750 $1,315 $1,853
==== ==== ====== ======
Preferred stock
dividends 38 37 113 80
-- -- --- --
Net income available
to common
shareholders $551 $713 $1,202 $1,773
==== ==== ====== ======
Diluted Earnings per
common share
$0.34 $0.45 $0.74 $1.15
===== ===== ===== =====
Average shares outstanding
- diluted 1,636 1,622 1,635 1,596
The company incurs substantial costs related to the cholesterol joint
venture, such as selling, general and administrative costs, that are not
reflected in the "Equity income" and are borne by the overall cost
structure of Schering-Plough.
1/ Net sales for the three and nine months ended September 30, 2008,
include sales of $1.4 billion and $4.2 billion, respectively, from Organon
BioSciences (OBS) which was acquired on November 19, 2007.
2/ Cost of sales for the three and nine months ended September 30, 2008
include purchase accounting adjustments of $221 million and $1.3 billion,
respectively, related to the acquisition of OBS.
3/ Research and development for the three and nine months ended September
30, 2007 include $20 million and $176 million, respectively, related to
upfront R&D payments.
4/ Included in other expense/(income), net for the three and nine months
ended September 30, 2008 were $160 million related to the previously
announced divestiture of certain animal health products. Included in other
expense/(income), net for the three and nine months e
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