Schering-Plough reports 'strong performance'
22 Jul 2008
Schering-Plough has reported a "strong performance" in its financial results for the second quarter.
It said net sales for the period were $4.9 billion (£2.4 billion), which represents an increase of 55 per cent on the same period last year.
The company cited particularly strong sales growth outside the US - with approximately 70 per cent of sales in the quarter coming from its non-domestic markets.
Chairman and chief executive officer Fred Hassan said: "While the overall US prescription market continues to get tougher, we achieved good sales growth internationally, with strong results for Remicade, Nasonex and Temodar."
He commented that the firm had enjoyed "broad-based growth" and stated his company's intention to develop its research pipeline and reduce costs through wise investments.
Schering-Plough and Merck recently announced the termination of their joint respiratory venture and the withdrawal of their new drug application for the loratadine-montelukast combination tablet.
