Later this month, Wyeth will present Phase 3 pediatric data for its investigational 13-valent pneumococcal conjugate vaccine PREVNAR 13 at the meeting of the Interscience Conference on Antimicrobial Agents and Chemotherapy/Infectious Diseases Society of America in Washington, D.C. The Company expects to complete its U.S. filing for pediatric use of the vaccine in the first quarter of 2009, with other pediatric global filings expected at the same time, or possibly earlier. Prevnar 13 is also being studied in Phase 3 global clinical trials in adults.
In the 2008 third quarter, the Company continued to realize the benefits of Project Impact, a company-wide program designed to initially address short-term fiscal challenges, particularly the significant loss of sales and profits resulting from the launch of generic versions of Protonix. Longer-term, Project Impact will include strategic actions that will fundamentally change how the Company conducts business as it adapts to the continuously changing business climate.
When fully implemented, we expect this initiative to generate annual cost savings in a range of $1.0 to $1.5 billion.
The charges for the third quarter and first nine months of 2008
included expenses of $115.2 million and $456.1 million, respectively,
primarily for severance and other employee-related costs associated with a
reduction in workforce of approximately 6%. The expenses in connection with
the productivity initiative for the first nine months of 2008 were offset,
in part, by a $104.7 million gain on the
Copyright©2008 PR Newswire.
All rights reserved