Wyeth Reports Earnings Results for the 2007 Fourth Quarter and... (nics Pharmaceuticals Inc. announced that...)

Wyeth Reports Earnings Results for the 2007 Fourth Quarter and Full Year

Date:1/31/2008

nics Pharmaceuticals, Inc. announced that the FDA extended by three months the action date for its review of the New Drug Application for a subcutaneous form of RELISTOR(TM) (methylnaltrexone) for the treatment of opioid-induced constipation in patients receiving palliative care. The FDA's new action date is April 30, 2008.

2007 Fourth Quarter Results

Net income and diluted earnings per share for the 2007 fourth quarter were $1,017.4 million and $0.75, respectively, compared with $855.4 million and $0.63 for the 2006 fourth quarter. The 2007 fourth quarter results included charges of $63.9 million ($41.9 million after-tax or $0.03 per share-diluted) related to the Company's productivity initiatives. The 2006 fourth quarter results included charges of $63.8 million ($48.1 million after-tax or $0.03 per share-diluted) related to the Company's productivity initiatives. The 2007 and 2006 productivity initiatives charges are considered to be certain significant items for purposes of analyzing the Company's results of operations. Net income and diluted earnings per share, before certain significant items, for the 2007 fourth quarter were $1,059.3 million and $0.78, respectively, compared with $903.5 million and $0.66, respectively, for the 2006 fourth quarter.

The increase in net income and diluted earnings per share for the 2007 fourth quarter, before certain significant items, resulted from higher net revenue, lower selling, general and administrative expenses, as a percentage of net revenue, lower research and development spending and higher interest income, net, offset, in part, by higher cost of goods sold, as a percentage of net revenue, lower other income, net, and increased income taxes. Included in other income, net were pre-tax gains from product divestitures of $19.1 million and $5.4 million for the 2007 and 2006 fourth quarter, respectively.

2007 Full Year Results

Net income and diluted earnings per share for the 2007 full ye
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Related biology technology :

1. Wyeth Sets Webcast and Conference Call for 2007 Third Quarter Earnings
2. Wyeth Announces $5 Billion Share Repurchase Program; Declares Increase in Common Stock Dividend
3. Wyeth Pharmaceuticals Acquires Haptogen Ltd. to Boost Biotechnology Drug Discovery
4. Wyeth Announces Election of New Principal Corporate Officer
5. Wyeth Declares Preferred Stock Dividend
6. Raven biotechnologies, inc. and Wyeth Pharmaceuticals Extend Evaluation Period of Selected Raven Antibodies
7. Wyeth Provides Update on Regulatory Review of Viviant (bazedoxifene)
8. Pfizer, Genentech, Amgen, Bayer, Wyeth, Abbott, Merck and Additional Leading Pharmaceutical Companies Participating During ExL Pharmas Fall Line Up!
9. Wyeth Will Pursue Claim for Damages Resulting From Teva Pharmaceuticals Launch of Generic Pantoprazole in Violation of PROTONIX Patent
10. Wyeth Consumer Healthcare Supports U.S. Food and Drug Administration Decision for Over-the-Counter Cough and Cold Medications in Children under Two Years of Age
11. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound

Post Your Comments:

Wyeth Reports Earnings Results for the 2007 Fourth Quarter and...(nics Pharmaceuticals Inc. announced that...)