S-P's 4th-qtr 2007 results hit by Organon buy
US drug major Schering-Plough's fourth-quarter 2007 results were hit by costs related to last year's acquisition of Organon BioSciences from Netherlands-based Akzo Nobel for 11.0 billion euros ($16.3 billion; Marketletters passim).
On a generally-accepted accounting principles basis, the Kenilworth, New Jersey-based firm saw a net loss of $3.4 billion, or $2.08 per common share. Earnings per share would have been $0.27, excluding purchase accounting adjustments and items related to the Organon merger, which closed on November 19, 2007, as well as other items. Net turnover totaled $3.7 billion versus $2.7 billion, beating the Reuters Estimates prediction of $3.53 billion in sales and EPS of $0.24.
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