The drug is the first high-tech, long-acting treatment for hepatitis C in children, a two-drug combination.

Pfizer said its earnings rose, despite declining sales of some of its key drugs, like Lipitor. Meanwhile, profit at Shering-Plough fell while profit at Biogen surged.

Schering-Plough said regulators had rejected Bridion, its drug to reverse the effects of anesthesia that had been heralded as a breakthrough product by analysts.

Schering-Plough said regulators had rejected Bridion, its drug to reverse the effects of anesthesia that had been heralded as a breakthrough product by analysts.

The cholesterol-lowering drug Vytorin did not help people with heart-valve disease avoid further heart problems but did appear to increase their risk of cancer, scientists reported Monday.

Merck and Schering-Plough said new test results show that their heart drug Vytorin failed to meet its main goal of improving cardiovascular outcomes.

A new multiple sclerosis drug helped lift Biogen Idec’s first-quarter profit by 24 percent. Schering-Plough’s reported decline, was less than Wall Street expected.