Wyeth profit falls 7 percent, but beats estimates
|
|
|
| Posted
:
Wed, 23 Jul 2008 12:14:01 GMT |
| By
:
Reuters |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
US Business News |
Home
|
|
|
|
NEW YORK (Reuters) - Wyeth on Wednesday said second-quarter earnings fell 7 percent, hurt by generic forms of its Protonix ulcer drug, although results beat estimates as they were helped by its vaccine for childhood infections and a drug for inflammatory disease.Wyeth said it earned $1.12 billion, or 83 cents per share, compared with $1.2 billion, or 87 cents per share, in the year-earlier period.Excluding special items, Wyeth earned 91 cents per share, 4 cents ahead of the average estimate of analysts, according to Reuters Estimates.Revenue rose 5 percent to $5.95 billion.Sales of its Effexor antidepressant rose 5 percent to $1.02 billion. Sales of its Prevnar vaccine to prevent pneumococca infections in children rose 9 percent to $691 million.Wyeth also benefited from its Enbrel drug, for which it shares rights with Amgen Inc . The drug, for inflammatory diseases, including rheumatoid arthritis, saw sales outside the United States and Canada rise 36 percent to $692 million. Wyeth's share of sales in the United States and Canada rose 6 percent to $284 million.Wyeth's branded Protonix sales have been under pressure by generic forms, launched by Teva Pharmaceutical Industries Ltd late last year. Sales of Protonix fell 59 percent to $228 million.(Reporting by Ransdell Pierson and Lewis Krauskopf; Editing by Maureen Bavdek)
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
Five more US bank failures bring total for 2009 to 120
New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate
New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent
Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary
Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss
Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|
