Schering Plough Reverses Year-Ago Loss
From Associated Press
Schering-Plough Corp., boosted by its cholesterol-fighting drugs and lower income taxes, reversed a year-earlier fourth-quarter loss, but still fell short of analysts’ forecasts.
The Kenilworth, N.J.-based drug maker said it earned $104 million, or 7 cents a share, contrasted with a loss of $856 million, or 58 cents, a year earlier.
The profit was below the 8 cents a share expected by analysts. The company’s stock fell 51 cents to $19.57.
Revenue increased 6% to $2.32 billion.
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