Schering-Plough with strong results

Tor-Eddie Fossbakk In a press release from the company, Schering-Plough reported net income available to common shareholders of USD 517 million or 34 cents per common share on a GAAP basis for the 2007 second quarter. The results include charges of USD 106 million or 7 cents per share related to a USD 60 million upfront licensing payment and USD 46 million in items related to the planned OBS acquisition. Excluding those charges, earnings per share for the 2007 second quarter would have been 41 cents (see table below). For the 2006 second quarter, Schering-Plough reported net income of USD 237 million or 16 cents per common share on a GAAP basis. Excluding charges of USD 138 million or 9 cents per share related to actions to streamline Schering- Plough's manufacturing operations as announced June 1, 2006, Schering-Plough's income in the 2006 second quarter would have been USD 375 million or 25 cents per share.