Wyeth has reported worldwide net revenue of US $5,620 million during the third quarter ended September 2007 as against $ 5,136 million in the similar period of last year, a growth of 9.4 per cent. However, its net profit declined marginally by one per cent to $ 1,146 million from $ 1,157 million. The basic earnings per share worked out to $085 as compared to $0.86 in the last period.
Robert Essner, chairman and CEO, said, "Outstanding 2007 third quarter performance was driven by revenue growth from our broad portfolio of drugs, vaccines and biotech products. We are on track to achieve annual sales of more than $ 1 billion in seven product categories. In addition, we are seeing excellent growth in all divisions of the company, with our Fort Dodge Animal health division projected to reach $ 1 billion in annual sales for the first time ever".
Wyeth's worldwide pharmaceuticals net revenue increased by 10 per cent in the third quarter of 2007 to $ 4670 million and that of consumer healthcare increased by 8 per cent to $715 million.
Enbrel continued to post strong revenue growth during the 2007 third quarter. Wyeth has exclusive rights to Enbrel outside of the US and Canada. Enbrel is now ranked sixth among the top pharmaceutical products ranked globally by sales. Prevnar, vaccine to prevent invasive pneumococcal disease in both infants and young children, continues to be world's best-selling vaccine. Prevnar is now available in 86 countries.
Net income for the first nine months of 2007 increased to $16,636 million from $ 15,130 million in the corresponding period of last year, a growth of 10 per cent. Its net profit also moved up by 7.7 per cent to $3,599 million from $3341 million. The basic earning per share improved to $ 2.68 from $2.48 in the last period.