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news.Schering-Plough Corporation has said that its fourth quarter profit rose rapidly as a result of strong sales from its cholesterol pipeline.
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For the 2006 fourth quarter, the company reported net income available to common shareholders of $182 million or 12 cents per share. This had increased from the 2005 fourth quarter results, when it reported a net income of $104 million or 7 cents per share.
Net sales for the 2006 fourth quarter totaled $2.7 billion, up 14% versus the 2005 fourth quarter.
Schering-Plough's leading prescription products like Remicade were up 32%, Nasonex up 28%, Peg-Intron up 11%, Temodar up 20%, and Clarinex/Aerius was up 12%.
Schering-Plough attributed the good results to the driving growth of its cholesterol franchise and achieving double-digit sales increases for the company's five top brands.
“We are now performing well across our businesses, including our dynamic cholesterol franchise,” said Fred Hassan, chairman and CEO.