Schering-Plough's Profit Drops 29%

Schering-Plough has been trying to get Claritin patients to switch to Clarinex, its new prescription allergy drug, but results have been mixed. Third-quarter Clarinex sales totaled $164 million.

It's also seeking Food and Drug Administration approval to sell Claritin as an over-the-counter product. An FDA decision is expected next month.

The company's line of hepatitis C drugs posted third-quarter sales of $703 million, doubling over sales in the year-ago period. But competition in this arena could be coming soon from Swiss drugmaker Roche.

Schering-Plough shares closed Wednesday at $18.69.