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news.Wyeth has posted a net income of $1.12 billion for the second quarter of 2008, compared to $1.19 billion for the same period in 2007.
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Worldwide net revenue increased 5% to $5.9 billion for the 2008 second quarter and 6% to $11.7 billion for the 2008 first half. Excluding the favorable impact of foreign exchange, worldwide net revenue for the 2008 second quarter was comparable to the 2007 second quarter.
The increase in worldwide pharmaceuticals net revenue was primarily due to higher sales of Effexor, Enbrel, Prevnar, Nutrition products and Zosyn, and the favorable impact of foreign exchange.
Net income and diluted earnings per share for the 2008 first half were $2.31 billion and $1.72, respectively, compared with $2.45 billion and $1.79, respectively, for the 2007 first half.
Bernard Poussot, chairman, president and CEO of Wyeth, said: “We are pleased with the volume growth we experienced internationally which was enhanced by foreign exchange rates, and continue to build upon the strength of our biotech products Enbrel and Prevnar, as well as our growing nutritional franchise. We also have the advantage of diverse businesses – pharmaceuticals, consumer healthcare and animal health.”