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Sales & Earnings In Brief

This article was originally published in The Tan Sheet

Executive Summary

Schering-Plough: Double-digit gains by OTC Claritin and sun care triggered a strong second quarter for the consumer health division, up 19% to $317 mil. Claritin sales jumped 22% to $117 mil. due to trade inventory adjustments in the year-ago quarter. Sun care revenue totaled $78 mil. (up 60%) as a result of the "timing of orders and shipments, coupled with favorable weather conditions," and foot care rose 7% to $89 mil. Schering has "good work underway" on new Coppertone and Dr. Scholl's extensions, CEO Fred Hassan tells analysts July 21. The solid consumer health results were more than offset by continuing struggles in Rx pharmaceuticals, spending on the FDA consent decree and restructuring costs. Consolidated sales fell 7% to $2.15 bil. and the firm reported a net loss of $65 mil...
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