Wyeth second-quarter net revenue up 9% to $5.2 billion, first-half 2006 net revenue up 8% at $10 billion

By Lisa Kerner

Charlotte, N.C., July 20 - Wyeth said its worldwide net revenue increased 9% to $5.2 billion for the 2006 second quarter and 8% to $10.0 billion for the first half of 2006.

The company reported net income for the second quarter of $1.07 billion, or $0.78 per diluted shares, up from the $976.6 million, or $0.72 per share, reported in the second quarter of 2005.

For the first half of 2006, Wyeth reported net income of $2.18 billion, or $1.60 per diluted share, an increase from the $2.05 billion, or $1.52 per diluted share, for prior-year period.

"Significant sales growth from Enbrel, Prevnar and most of our broad product portfolio, New Drug Application filings for two new products, and the continuation of productivity initiatives including our pharmaceuticals sales force reorganization have positioned us for further growth," chairman and chief executive officer Robert Essner said in a company news release.

"We are on track for another excellent year, and expect to reach at least the upper end of our 2006 pro forma diluted earnings per share guidance range of $2.97 to $3.07."

Wyeth is a research-driven pharmaceutical and health care products company based in Madison, N.J.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.