Schering-Plough sees cholesterol drug sales rising
BOSTON (Reuters) - Schering-Plough Corp <SGP.N> said on Thursday that it expects to report higher sales of its cholesterol drugs Vytorin and Zetia in the fourth quarter of 2007 and in 2008 even though they face growing competition.
The company said its chief executive, Fred Hassan, will likely make the projections at a Morgan Stanley conference on January 3. Hassan will also probably say that Schering-Plough intends to invest in its key brands to sustain their leadership position, the company said in a statement.
Schering-Plough also said the company's acquisition of the Organon unit of Dutch chemical group Akzo Nobel NV <AKZO.AS> -- announced in March -- will add about 10 cents a share to earnings in the first full year, excluding acquisition-related costs, and that it ultimately expects to achieve annual synergies of $500 million.
(Reporting by Toni Clarke)