Down from 10.1 percent, at year end 2008 -- according to the Form 10-Q Schering-Plough filed overnight (at page 27). Updated graphics when I am finally off the road at right (click to enlarge):
. . . .As of June 2009, total combined prescription share for VYTORIN and ZETIA in the U.S. was down versus December 2008 from 10.1 percent to 8.6 percent. . . .
[Prior 10-Q, page 24:]
. . . .As of March 2009, total combined prescription share for VYTORIN and ZETIA in the U.S. was down versus December 2008 from 10.1 percent to 9.1 percent. . . .
In addition (as I guessed it had) during Q2 2009, Schering-Plough absorbed $79 million of what used to be $111 million of receivables owed to it, from the cholesterol joint venture (primarily undistributed income), at the end of Q1 2009.
It sure looks like the reported cholesterol franchise results would have been even worse, had the receivables balance not been dropped to $32 million, from $111 million. The comparable figure at year-end 2008 was $130 million. Looking back at prior Forms 10-Q, Schering-Plough has never drawn down receivables in that magnitude, and paid itself that much in a quarter. Canopic jars, anyone?
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