Replies to post #80184 on Traders of the Caribbean

[GuruTrader]

Schering-Plough 1Q profit jumps
Schering-Plough's 1st-quarter profit surges on lower costs, offsetting decline in sales
Tuesday April 21, 2009, 7:19 am EDT
Buzz up! Print NEW YORK (AP) -- Schering-Plough, in the process of being acquired by competitor Merck, says drug sales fell in the first quarter but profit tripled because of a charge in last year's quarter related to an acquisition.

The Kenilworth, New Jersey-based maker of arthritis treatment Remicade and allergy spray Nasonex earned $767 million, or 46 cents per share. That compares with profit of $276 million, or 17 cents per share. Revenue fell 6 percent.

Excluding charges, the company earned 56 cents per share, topping expectations. Analysts forecast profit of 47 cents per share.

Sales in the company's troubled cholesterol drug franchise continued to lose ground, falling 21 percent. The company's partner, Merck, records sales of the drugs Vytorin and Zetia.