Wyeth Revenues Rise With Exchange Rates in First Half
Wyeth’s worldwide net revenue rose 6 percent to $11.7 billion in the first half of the year, but the increase was 1 percent if currency exchange rates are discounted.
“We are pleased with the volume growth we experienced internationally, which was enhanced by foreign exchange rates, and continue to build upon the strength of our biotech products Enbrel and Prevnar, as well as our growing nutritional franchise,” Chairman, President and CEO Bernard Poussot said.
Wyeth’s increased revenue was due largely to sales of three products. In the U.S. and Canada, where it is allied with Amgen to sell Enbrel (etanercept), Wyeth’s share of earnings from the chronic inflammatory disease treatment increased to $610 million for the first six months of 2008, a 23 percent increase over the same period the previous year. Wyeth’s sales of Enbrel everywhere else were about $1.3 billion for the first six months of 2008, an increase of 36 percent year over year.
Sales of Prevnar (pneumococcal 7-valent conjugate vaccine [diphtheria CRM197 protein]), a pediatric vaccine against invasive pneumococcal disease, were roughly $1.4 billion, up 12 percent.
Worldwide sales of the antidepressant Effexor (venlafaxine HCl) totaled $2.04 billion, up 9 percent.