“We set out then with a clear strategy to reposition Schering-Plough,” Fred Hassan says in today’s earnings release . “Our goal was to shift to high value-creation activity across the company. We have executed on that strategy.” “The results have been impressive As we move forward with the Build the Base phase of our Action Agenda, we have greater strength and flexibility to grow our businesses, penetrate new markets and seize promising opportunities.”

Maybe, but Wall Street seems to think the pipeline needs pizazz, as in some major acquisitions. So far, though, as noted late last week, nothing much has happened.

Meanwhile, here are a few earnings highlights:

Fourth-quarter net income was $182 million, or 12 cents a share, up from $104 million, or 7 cents. Sales rose 14 percent, to $2.65 billion, from $2.3 billion. Cholesterol sales of the Vytorin/Zetia franchise yielded higher equity income of $403 million, versus $268 million for all of 2006. In the fourth quarter, Nasonex sales jumped 37 percent, to $253 million. Remicade sales rose 34 percent to $337 million.
[tags]Schering-Plough[/tags]