Wyeth's first quarter revenues up
Wyeth's worldwide net revenue was up 6% to US$4.8bn for the first quarter of 2006 and net income rose nearly 4% to $1,119.6m compared with $1,078.2m in 2005.
Wyeth's worldwide net revenue was up 6% to US$4.8bn for the first quarter of 2006 and net income rose nearly 4% to $1,119.6m compared with $1,078.2m in 2005.
Wyeth chairman and ceo, Robert Essner, said the company anticipated six product franchises with sales of one billion dollars or more by year-end. He added that operating income grew at a rate significantly higher than revenue growth in the quarter, reflecting its success in productivity improvements.
Worldwide sales revenue for the leading antidepressant Effexor was up 9% to $945m, compared with the 2005 first quarter. The vaccine Prevenar, soon be added to the UK's national immunization schedule, achieved first quarter revenues of $432m, up 10% on the same quarter in 2005. Net revenue for the Premarin family of hormone replacement therapy products was $266m, an increase of 26% compared with the same quarter last year. While gastrointestinal reflux drug Protonix, posted net revenue of $482m, an increase of 18%.
Wyeth expects approval of Lybrelt (levonorg-estrel/ethinyl estradiol), a new oral contraceptive with a unique dosing regimen, in the coming months and anticipates five additional NDA filings for new products in the next year.