Schering-Plough EPS increases 14.7%

Schering-Plough's fourth-quarter 2000 net income rose 12.8% to $571million, or $0.39 per share (+14.7%), as sales increased 6% to $2.42 billion. Worldwide pharmaceutical sales in the quarter rose 5% (or 9% excluding currency fluctuations) to $2.06 billion, led once again by S-P's non-sedating antihistamine drug, Claritin (loratadine), which increased 15% to $662 million.

Other products performing well were Intron A (interferon alfa-2b) and Rebetron (which comprises Intron A and ribavirin), combined sales of which were $324 million, up 9%. In addition, S-P's nasally-inhaled steroid franchise grew 12% to $151 million, led by Nasonex (mometasone furoate monohydrate), which contributed $115 million (+36%), while Temodar (temozolomide) and Integrilin (eptifibatide) also did well, recording revenues of $33 million and $50 million, respectively.

Richard Kogan, S-P's chief executive, said the firm has "turned in another strong performance," noting that it has achieved double-digit growth in earnings per share for the 15th consecutive year. For full-year 2000, net income was $2.42 billion, or $1.64 per share, up 15%, while sales rose 8% to $9.82 billion.