Schering Plough's net sales increase 17 per cent

Pharmaceutical Company Financials

Schering Plough's net sales have increased 17 per cent, according to the organisation's fourth-quarter and full year financial results.

Now standing at $4.3 billion (2.99 billion pounds), the figure was accompanied by news the business's sales of prescription pharmaceuticals also rose 17 per cent over the fourth-quarter to $3.5 billion.

However, the business reported a loss in its global cholesterol joint venture, down 26 per cent to $1.1 billion.

Fred Hassan, chairman and chief executive officer of Schering Plough, said the company reported a "very strong performance" over 2008, bucking the trend of intensifying pressures on the industry.

He added: "We remain confident about one thing - that innovator companies, those that can discover and deliver valuable new medicines - should continue to do well."

Mr Hassan noted there are 12 new entities in phase III or pre-registration status.

In December, Schering Plough announced its $3.75 per share quarterly dividend payment on the organisation's 2007 Mandatory Convertible Preferred Stock will be made on February 17th this year.

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