Schering-Plough Profit Increased to $517 Million
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Schering-Plough said that second-quarter earnings rose sharply, fueled by growing demand for its Zetia and Vytorin cholesterol drugs and treatments for arthritis and allergies.
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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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Third-quarter profit rose 15 percent to $1.28 billion as  premium and fee growth in its Medicaid business helped offset lower enrollment in employer-sponsored programs.
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BASF said its fourth-quarter profit rose 31 percent on growth in its chemicals division, helped by acquisitions like the Engelhard Corporation, a maker of catalysts. The results were better than expected, and the company said its sales would be significantly higher this year. BASF earned 732 million euros ($962 million) in the quarter, up from 560 million euros in the period a year earlier. Sales rose 23.5 percent, to 14.47 billion euros ($19.02 billion).
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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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HONG KONG (Dow Jones)--China Petroleum &amp; Chemical Corp. (SNP), China&#39;s second-largest oil producer, said its first-half net profit rose 51%, on increased domestic demand and higher oil prices.
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Schering-Plough Corp.  said on Monday that second-quarter earnings rose sharply, fueled by growing demand for its Zetia and Vytorin cholesterol drugs and treatments for arthritis and allergies.
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Schering-Plough Corp. swung to a profit in the third quarter from a loss a year ago, even as sales decline slightly in the period.
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Swiss pharmaceuticals giant Novartis AG on Thursday reported a 21 percent rise in third-quarter net profit to $1.55 billion.
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Profits at the drugmaker increased 13 percent in the second quarter on higher sales of its arthritis drug and pneumonia vaccine.
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Drug maker Schering-Plough Corp  on Tuesday reported a fourth-quarter loss as special charges from its acquisition of Organon Biosciences late last year offset sharply higher sales.
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The biotech company reported net income of $833 million, or 71 cents per share, for the latest quarter.
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The biotechnology company earned $186.1 million during the second quarter, citing strong sales of two drugs.
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Net profit in the fourth quarter rose to 753 million euros ($1.09 billion), helped by sales of the blood-thinner Plavix in the United States and cost-cutting measures, the company said.
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Drugmakers Merck & Co.  and Schering-Plough Corp.  reported second-quarter results that handily topped Wall Street expectations on Monday, helped by increased sales of the cholesterol-lowering drugs they co-market and other medicines.
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Dutch chemical group Akzo Nobel NV   said on Monday it is selling its  pharmaceutical unit Organon BioSciences to Schering-Plough   for 11 billion euros ($14.5 billion).
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PARIS Sanofi-SynthÃ©labo, which this month completed its $63 billion purchase of a rival drug manufacturer, Aventis, reported Tuesday a 21 percent jump in first-half profit on higher demand for the blood thinner Plavix and the cancer treatment Eloxatin.