Wyeth's 4th-qtr 2007 income climbs 18% just shy of estimates; predicts flat 2008 on generic competition
USA-based drugmaker Wyeth reported adjusted income of $1.06 billion, or $0.78 per share, for the three months ended December 31, 2007, up 17.7% on its earnings in the comparable period a year earlier. Analysts surveyed by Thomson Financial had predicted earnings of $0.79 per share.
The New Jersey-headquartered firm, which incurred a charge of $63.9 million in the period due to ongoing productivity initiatives, said that its improved performance had been driven by a combination of higher revenues, up 10% to $5.76 billion, and lower R&D expenditure, down 9.7% to $882,094.
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