Earnings In Brief
This article was originally published in The Rose Sheet
Executive Summary
Schering-Plough: Sun care sales soared 60% to $78 mil. in the second quarter, "due to the timing of orders and shipments, coupled with favorable weather conditions," Coppertone marketer reports July 21. Consumer health care sales rose 19% to $317 mil., firm adds. Schering has "good work underway" on new Coppertone and Dr. Scholl's extensions, CEO Fred Hassan says during July 21 earnings call. However, consumer health gains were offset by struggles in Rx pharmaceuticals, spending connected to an FDA consent decree and restructuring costs, company states. Firm reports 7% net sales decline to $2.1 bil. and net loss of $65 mil...
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