Wyeth Q3 net revenues up

The company has reported net income of $1.14 billion for the third quarter of 2008, compared to $1.14 billion for the third quarter of 2007. Diluted earnings per share were $0.84 for the third quarter of 2007 and 2008.

For the first nine months of 2008, Wyeth recorded reported net revenues of $17.5 billion, an increase of 5%, compared with $16.6 billion in the same period in 2007.

The company posted net income of $3.46 billion in the first nine months of 2008, compared to $3.59 billion in the prior-year period. Diluted earnings per share for the first nine months of 2008 were $2.56, compared to $2.63 in the same period of 2007.

Bernard Poussot, chairman, president and CEO of Wyeth, said: “Wyeth’s results so far this year reflect the continued solid performance of our major growth engines – Enbrel, Prevnar and our nutritionals franchise.

“For the first nine months of 2008, our revenues grew 5% despite the launch of Protonix generics in December 2007. Wyeth has become a well-diversified global biopharmaceutical company with 43% of its revenues represented by vaccines, biotechnology and nutritional products.”