"Our financial results for the third quarter demonstrate strong operating performance and we are increasing our 2008 annual guidance," said Kevin Sharer, chairman and chief executive officer. "We are now focused on plans to commercialize denosumab in post-menopausal osteoporosis. We're excited about the opportunity to bring this novel treatment option to patients with this serious disease," concluded Sharer.
Product Sales Performance
During the third quarter, total product sales increased 7 percent to $3,784 million from $3,524 million in the third quarter of 2007. Sales in the U.S. totaled $2,929 million, an increase of 4 percent versus $2,809 million in the third quarter of 2007. International sales increased 20 percent to $855 million versus $715 million for the third quarter of 2007. Changes in foreign exchange positively impacted third quarter 2008 sales by $78 million. Excluding the impact of foreign exchange, total product sales increased 5 percent and international product sales increased 9 percent.
Worldwide sales of Aranesp(R) (darbepoetin alfa) increased 3 percent to
$845 million in the third quarter of 2008 versus $818 million during the
third quarter of 2007. In the U.S., third quarter 2008 Aranesp sales were
relatively unchanged at $458 million in the third quarter of 2008 versus
$460 million in the third quarter of 2007. U.S. sales of Aranesp in the
third quarter of 2008 benefited from a $54 million change in the accounting
estimate related to product sales return reserves. Excluding the positive
impact of this change in the accounting estimate, U.S. sales of Aranesp
decreased 12 percent in the third quarter of 2008 versus the p
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