S-P's 3rd-qtr 2006 net income improves

Schering-Plough says that its third-quarter 2006 net income reached $287.0 million, or $0.19 per share, on a Generally-Accepted Accounting Principles basis. The US drugmaker's earnings represent an almost five-fold increase on the like, year-ago period, beating a $0.15 per share prediction by Lehman Brothers. On the morning of the announcement, October 20, shares in the pharmaceutical group rose 2.2% to $22.81.

The New Jersey-headquartered firm's performance was driven by strong combined sales of the dyslipidemia drug Zetia (ezetimibe) and the cholesterol-lowerer Vytorin (ezetimibe/simvastatin), which it markets in partnership with Merck & Co. Global cholesterol revenue from the joint venture, totaled $1.01 billion during the period, a 63.9% income surge (see also page 10).

Remicade, Nasonex and Temodar leading income rise