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Home Industry News Schering-Plough and Merck shares rise

Schering-Plough and Merck shares rise

19th March 2008

Despite an announcement by pharmaceutical giant Schering-Plough that its sales of cholesterol drugs are falling, its shares rose by 49 cents (£0.25) in today’s US midday trading, it has been reported.

The two drugs in question, Vytorin and Zetia are marketed through a joint venture wit Merck, online news resource the Associated Press noted.

However, shares in Merck also performed well during today’s trading, rising 65 cents to $42.51.

Last month, Schering-Plough announced its whole of year financial results for 2007, reporting “strong performance” and increased diversity within its portfolio.

It stated that its growth had been into global markets, with sales outside of the US increasing by 70 per cent.

Fred Hassan, chairman and chief executive officer of the organisation, took the opportunity to address the venture with Merck, stating that the business faced “new challenges” as a result of critical scrutiny.

He asserted: “We stand behind Vytorin and Zetia, behind the validity of the science and behind our commitment to doing what’s right for patients and physicians.”

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