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
The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.