Wyeth has reported satisfactory performance during the year ended December 2006. Its net earnings improved by 14.8 per cent to US$ 4,197 million from $ 3,656 million in the previous year. Its net revenue increased by 8.5 per cent to $20,351 million from $18,756 million. The earning per share worked out to $3.08 as against $2.70.
"In 2006, we made strategic investments in our future, while simultaneously delivering strong financial results. Net revenue, operating income and net income all increased significantly during the year, while pro forma EPS increased by 14 per cent," said Robert Essner, chairman and CEO.
"We achieved strong growth with all of our major product in 2006 and achieved a billion or multi-billion dollar status in annual sales in six products franchises. With six regulatory filings involving four new pharmaceutical products completed during the year, combined with continued investments in R&D, Wyeth is positioned for strong growth in 2007 and beyond."
Worldwide Pharmaceuticals net revenue increased by 10 per cent to $16,884 million in 2006. Further, alliance revenue increased by 17 per cent to $1,339 million primarily due to higher sales of Enbrel in the US and Canada.
The company's R&D expenditure increased by 13.1 per cent to $3,110 million from $2,749 million in the previous year. Its seven products reached sales above one billion dollar during 2006.The sales of Effexor improved by 8 per cent to$3,722 million and that of Prevnar reached at $1,961 million in 2006, representing a growth of 30 per cent.