Schering-Plough Reports Results For FY2009 Q2

For the 2009 second quarter, Schering-Plough has reported GAAP net income of $633m or 38 cents per common share, compared to $424m or 26 cents per common share for same period 2008. GAAP net sales reported for the 2009 second quarter totaled $4.6 billion, negative 6% as compared to the second quarter of 2008.

Fred Hassan, chairman and CEO of Schering-Plough, said: Our successful diversification strategy and strong execution by our people have given us the strength to again power through tough challenges – delivering operational sales growth and reconciled earnings-per-share growth for the second quarter.

Meantime, we can see that six years of focus and investment in our R&D pipeline have created enormous long-term value.

Our rich late-stage pipeline continues to advance. We continue to achieve positive regulatory actions in major markets – for example, the recent approval of two products – ASMANEX and REMERON – on the same day in Japan, and a recommendation for approval in Europe of SIMPONI, a novel biologic treatment for inflammatory diseases. In our industry, long-term strength comes from creating a continuous flow of new innovations. We are proud that we have created such a strong and productive R&D engine at Schering-Plough, he added.