Wyeth's income climbs 33% to $1.16B in 3rd-qtr, on continued success of Enbrel and Prevnar
USA-based drugmaker Wyeth has reported net income of $1.16 billion, or $0.85 per share, for the quarter ended September 30, 2006, which represents a 33% increase on the comparable quarter in 2005. The firm said that the growth had been driven by a 9% hike in its revenues to $5.14 billion, which was ahead of the $5.03 billion average forecast by analysts polled by Thompson Financial.
Biologics drive 3rd-qtr revenue growth
The firm went on to say that its sales expansion was driven by the success of the anti-inflammatory agent Enbrel (etanercept), for which it has exclusive rights outside the USA under an agreement with partner Amgen, which contributed $378.0 million, up 37%, and the pneumococcal vaccine Prevnar that saw growth of 30% to $510.0 million during the period.
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