Claritin is scheduled to lose its U.S. marketing exclusivity next year — an event which would usher in competition from cheaper generics. It is awaiting U.S. marketing approval for a closely related compound, desloratadine, that the company claims is superior to Claritin.
Schering-Plough received approval on Monday, Jan. 22, for a longer-acting version of its Intron-A treatment for hepatitis C.
From the start of the year to Jan. 24, Schering-Plough shares have underperformed the S&P 500 by roughly 12 percent. The company, however, has outperformed the American Stock Exchange Pharmaceutical Index by 3.5 percent.
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Starbucks Beats Wall Street Forecasts
Starbucks Corp. reported its profits rose 41 percent in its fiscal first quarter, beating Wall Street forecasts, as the company continued its rapid global expansion, and raised its profit goal for 2001.
The Seattle-based coffee-shop giant said net earnings for the quarter ending Dec. 31 totaled $49 million, or 25 cents per diluted share, up from $34.7 million, or 18 cents, a year earlier.
Analysts on average had expected Starbucks to earn 23 cents per share, according to First Call/Thomson Financial. As previously reported, Starbucks's consolidated net revenues rose 26 percent to a record $667 million in the first quarter, from $529 million in the same period a year earlier.
Starbucks operates more than 3,800 coffee shops, including 3,200 in North America.
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