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Home Industry News Schering-Plough says it will drive forward

Schering-Plough says it will drive forward

22nd April 2009

Schering-Plough will remain focussed on driving its business forward over coming months, it has asserted.

The company’s first quarter 2009 financial results showed net sales were down six per cent from the same period last year – totalling $4.4 billion (three billion pounds).

Prescription pharmaceuticals raised $3.4 billion, which was a decrease of five per cent compared to the first three months of 2008. This reflected a five per cent increase in operations and an unfavourable effect of ten per cent from foreign exchange rates.

Remicade, a drug for inflammatory diseases, saw sales grow by two per cent and amount to $518 million.

Fred Hassan, chairman and chief executive officer of the company, commented the firm had “powered through to deliver a solid performance” in the first quarter of this year.

“We overcame difficult currency comparisons and challenges in the US by driving operational sales growth in overseas markets,” he remarked.

Schering-Plough will continue its attempts to reduce costs, invest wisely and expands its pipeline, Mr Hassan concluded.

Earlier this month, the company announced the drug Simponi had been approved.

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