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Financial Report: Wyeth 3Q08

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Wyeth

3Q Revenues: $5.8 billion (+5%)

3Q Earnings: $1.1 billion (flat)

YTD Revenues: $17.5 billion (+5%)

YTD Earnings: $3.5 billion (-4%)

Comments: Pharmaceutical sales in the quarter were $4.9 billion (+5%) driven by Enbrel, Prevnar and Nutritional products, as well as the favorable impact of foreign exchange. This was partially offset by lower sales of Protonix. Also contributing to revenue growth were new products, Tygacil, Torisel and Pristiq. Enbrel sales (outside U.S. and Canada) were $697 million (+32%). Enbrel alliance revenue (U.S. and Canada) was $294 million (+23%). Prevnar sales were $717 million (+13%). Sales of Protonix products were $234 million (-45%). R&D expenses in the quarter were flat at $793 million.

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