| AstraZeneca 4Q Profit Rises 17 Percent
AstraZeneca PLC said Thursday its fourth-quarter profit rose 17 percent, boosted by strong sales of its top five products and cost cutting. But the company said its focus remained on strengthening its weak pipeline of future drugs. The company, which is facing patent challenges and escalating generic competition, also said that it plans to cut 3,000 jobs over the next three years despite predicting continued sales momentum this year. Net profit for the three months to Dec. 31 was $1.4 billion, up from $1.2 billion a year earlier, AstraZeneca said. Revenue rose 14 percent to $7.2 billion. For the full year, profit rose 28.5 percent to $6.04 billion, while sales lifted 11 percent to $26.8 billion. The 2006 results were driven by a 23 percent increase in combined sales of its five key products -- heartburn drug Nexium, schizophrenia treatment Seroquel, cholesterol-lowering treatment Crestor, asthma drug Symbicort and breast cancer treatment Arimidex -- to $13.3 billion.
Facility tops City Council agenda
Terrell City Council on Tuesday will discuss and consider 6 acres of land the Terrell Economic Development Corporation is donating to the city for a public safety facility.If approved, the land transfer is subject to construction beginning within 36 months and the city paying all closing cost related to the transfer.Also, before the facility is built it would have to be voted for in a bond election.According to Terrell Fire Chief Jim Harper, who was present at a TEDC meeting Jan. 23 on behalf of the city, the public safety facility would contain a police station with future plans to add a fire station.The facility would be located in Metrocrest Industrial Park. .
Musiq Soulchild Returns With 'LUVANMUSIQ'; 'LUVANMUSIQ' Arrives On ...
Performance" category, acknowledging his take on the classic "Are You Experienced?," found on the "POWER OF SOUL: A TRIBUTE TO JIMI HENDRIX" collection. Other extracurricular efforts include contributing guest vocals to the Roots' "Break You Off" (found on 2002's "PHRENOLOGY") and Carlos Santana's 2002 "SHAMEN." .
Schering-Plough reports 75% rise in profit
Schering-Plough Corp. said Monday its fourth-quarter profit surged 75 percent as strong sales of the drugmaker's cholesterol, arthritis and allergy medicines helped offset rising research and marketing spending. Kenilworth-based Schering-Plough said net income totaled $182 million, or 12 cents per share, up from $104 million, or 7 cents per share, a year ago. The latest quarter includes a charge of 4 cents per share to streamline the company's manufacturing operations and a charge of a penny per share to license an over-the-counter heartburn treatment. Excluding items, the company posted profit of 17 cents per share, matching Wall Street's consensus estimate, according to a Thomson Financial poll. "We're very pleased about the strong quarter, a strong year and a strong three-year track record," said Fred Hassan, who took over as chairman and chief executive officer 3 1/2 years ago and started an ambitious turnaround plan.
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