Wyeth Reports Earnings Results for the 2007 Fourth Quarter and...(tstanding. Interest expense net o...)

Interest expense, net of capitalized interest and taxes was $10,331

and $33,948 for the 2007 fourth quarter and full year, respectively,

compared with $8,168 and $30,009 for the 2006 fourth quarter and full

year, respectively.

(3) Charges related to activities associated with the Company's

productivity initiatives and the 2006 income tax adjustment are

considered certain significant items and have been excluded from the

results of operations -- as adjusted for the 2007 and 2006 fourth

quarter and full year as follows:

Productivity Initiatives

(UNAUDITED)

Three Months Ended Full Year Ended

(In thousands, except 12/31/07 12/31/06 12/31/07 12/31/06

per share amounts)

Cost of Goods Sold $62,000 $42,700 $244,300 $129,200

Selling, General and

Administrative Expenses 1,900 23,200 28,800 78,000

Research and Development

Expenses - (2,100) 300 11,400

Total Productivity

Initiatives Charges $63,900 $63,800 $273,400 $218,600

Productivity Initiatives

Charges, After-tax $41,900 $48,100 $194,400 $154,500

Decrease in Diluted

Earnings per Share $0.03 $0.03 $0.14 $0.11

Income Tax Adjustment

The 2006 full year results include an income tax adjustment of $70.4

million ($0.05 per share-diluted) related to the reduction of certain

deferred tax asset valuation allowances.

Wyeth calculates net income before certain significant items by excluding the after-tax effect of items considered by management to be unusual from the net income reported under gene
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