Health and Healthcare
Schering-Plough Relief on Partner Earnings (SGP)
Published:
Schering-Plough Corp. (NYSE: SGP) is probably breathing a sigh of relief this morning after Merck’s earnings as it is partners with the drug giant on Vytorin and Zetia for cholesterol treatments.
The combined Vytorin & Zetia franchise was noted as having some $5.2 Billion in 2007 annual sales, with some $1.5 Billion being reported in the fourth quarter alone.
Merck did disclose some 50 lawsuits over these sales and noted that it is complying and cooperating with investigations. But the good news is that the company’s guidance wasn’t sharply changed.
Schering-Plough has a large portion of its profits that come directly as a result of its Merck partnership. It is still too early to get a solid read on Schering-Plough shares and obviously the situation can change based on Merck comments in their earnings conference call.
So far shares are indicated up marginally for Schering-Plough at $19.20 after a $19.11 close yesterday. Its 52-week trading range is $17.45 to $33.81, and shares were north of $26.00 at the start of 2008.
Jon C. Ogg
January 30, 2008
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
