Schering-Plough Posts Loss on Accounting Rule
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The company said it lost $3.36 billion in the fourth quarter because of accounting rules related to the purchase of Organon BioSciences.
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The loss, which came to $3.41 a share, was in contrast to a profit of $45.4 million, or 97 cents a share, in the quarter a year earlier.
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Merck posted a $1.63 billion fourth-quarter loss on Wednesday as charges for its Vioxx litigation settlement dragged down results and share prices.
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For the period that ended Dec. 31, the company reported a loss of $16 million, or 11 cents a share, in contrast to a profit of $18 million, or 12 cents a share, in the period a year earlier.
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BAYER has formed an alliance for its struggling pharmaceuticals business with American drug-maker Schering-Plough. Drugs and chemicals group Bayer, which is in the midst of restructuring its business, said
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The companies have lost a court ruling that may result in their paying royalties on an experimental cancer drug to an Israeli research institute.
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Department store operator Bon-Ton  Stores Inc.  on Wednesday reported a wider quarterly  loss, hurt by an income tax charge, but reaffirmed its fiscal  year earnings forecast.
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Eli Lilly and Co. LLY.N on Wednesday  reported a fourth-quarter net loss on charges for restructuring  and taxes related to the return of overseas profits, as sales  of prescription drugs rose only slightly.
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The Schering-Plough Corporation has agreed to pay $435 million and plead guilty to conspiracy to settle charges of marketing drugs for unapproved uses and overcharging Medicaid.
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Schering-Plough Corp.  said on  Tuesday it will pay $435 million and plead guilty to one count  of conspiracy to make false statements to the government to  settle an investigation into its sales, marketing and clinical  trial practices and programs.
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Drug giant Schering-Plough Corp. said Monday that it will pay $10 million to exercise its option to license ViroPharma Inc.&#39;s cold treatment in the United States and Canada.
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Restructuring charges of $44 million contributed to Monsanto&#39;s reported fourth-quarter 2004 loss of $42 million, compared to a loss of $188 million in the same quarter last year.
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Schering-Plough Corp  on Monday  reported third-quarter profit and sales that fell short of Wall  Street's target, sending shares down more than 10 percent amid  concerns about its flagship cholesterol drugs.
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Department store operator Bon-Ton Stores Inc.  on Wednesday reported a wider quarterly loss, hurt by an income tax charge, but reaffirmed its fiscal year earnings forecast.
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Bayer AG forged an alliance for its struggling pharmaceuticals business with US drugmaker Schering-Plough on Monday, cutting costs and marking another step in the German company&#39;s transformation.
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OSI Pharmaceuticals Inc. on Monday posted a wider loss for the year ended Sept. 30, hurt by greater research and development costs and one-time charges during the period.
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Shares in Schering dropped on Friday  after the German drugmaker said U.S. regulators needed more  information to approve its key Bonefos drug for use in  preventing bone tumors in breast cancer patients.