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Schering-Plough Reports Financial Results for Third Quarter of 2008
Date:10/21/2008

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Net sales, as reported a/ $14,154 $8,965 58%

50 percent of cholesterol joint

venture net sales b/ 1,719 1,838 (6%)

Adjusted net sales b/ $15,873 $10,803 47%

a/ Net sales for the three and nine months ended September 30, 2008

include sales from Organon BioSciences (OBS) which was acquired on

November 19, 2007.

b/ Total Net sales of the cholesterol joint venture for the three months

ended September 30, 2008 and 2007 were $1.1 billion and $1.3 billion,

respectively. Total Net sales of the cholesterol joint venture for the

nine months ended September 30, 2008 and 2007 were $3.4 billion and $3.7

billion, respectively.

NOTE: Adjusted net sales, defined as net sales plus an assumed 50 percent

of global cholesterol joint venture net sales, is a non-U.S. GAAP measure

used by management in evaluating the performance of the Schering-Plough's

overall business. Schering-Plough believes that this performance measure

contributes to a more complete understanding by investors of the overall

results of the company. Schering-Plough provides this information to

supplement the reader's understanding of the importance to the company of

its share of results from the operations of the cholesterol joint venture.

Net sales (excluding the cholesterol joint venture net sales) is required

to be presented under U.S. GAAP. The cholesterol joint venture's net sales

are included as a component of income from operations in the calculation

of Schering-Plough's "Equity income." Net sales of the cholesterol joint

venture do not include net sales of cholesterol products in non-joint

venture territories.


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SOURCE Schering-Plough Corporation
Copyright©2008 PR Newswire.
All rights reserved

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