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Wyeth Reports Earnings Results for the 2009 Second Quarter and First Half and Raises Full Year 2009 Guidance
Date:7/23/2009

of $60,000 related to the previously divested SYNVISC(R) product line. Further, Other (income) expense, net included pre-tax gains from product divestitures of $4,196 and $29,351 for the 2009 second quarter and first half, respectively, compared with $10,143 and $33,201 for the 2008 second quarter and first half, respectively.
  • Certain significant items related to our productivity initiatives and the proposed merger with Pfizer have been excluded from the results of operations - as adjusted for the 2009 and 2008 second quarter and first half as follows:
  • Productivity Initiatives

                                                        (UNAUDITED)
                                        -----------------------------------------
                                         Three Months Ended   Six Months Ended
                                        -------------------   -------------------
            (In thousands except per
             Share amounts)             6/30/2009 6/30/2008   6/30/2009 6/30/2008
            --------------------------  --------- ---------   --------- ---------
    
            Cost of Goods Sold            $37,603   $47,641   $104,171  $113,569
            Selling, General and
             Administrative Expenses        6,026   101,551     11,190   202,125
            Research and Development
             Expenses                       1,236     6,008      1,254    25,121
                                            -----     -----      -----    ------
            Total Productivity Initiatives
             Charges(a)                    44,865   155,200    116,615   340,815
            Other Income, Net(b)                -         -          -  (104,655)
                                          -------  --------   --------  --------
            Net Productivity Initiatives
             Charges                      $44,865  $155,200   $116,615  $236,160
                                          =======  ========   ========  ==
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    SOURCE Wyeth
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