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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

ted earnings per share, excluding certain significant items, to a range of $3.48 to $3.58. We consider our productivity initiatives and costs associated with the merger to be certain significant items.

Merger with Pfizer

The merger agreement with Pfizer received the required approval of shareholders at Wyeth's Annual Meeting on July 20, 2009. Over 98 percent of votes cast and approximately 78 percent of the outstanding shares were voted in favor of the Pfizer merger. The transaction is expected to close at the end of the third quarter or during the fourth quarter of 2009.

Results of Operations

The comparative results of operations are as follows:

(In thousands except per share amounts)

                                             (UNAUDITED)
                             ------------------------------------------
                             Three Months Ended        Six Months Ended
                            ---------------------   ----------------------
                            6/30/2009   6/30/2008   6/30/2009    6/30/2008
                            ---------   ---------   ---------    ---------
    Net Revenue            $5,695,160  $5,945,358  $11,072,133  $11,656,007
    Cost of Goods Sold      1,564,961   1,683,937    2,945,852    3,245,950
    Selling, General and
     Administrative
     Expenses               1,598,518   1,832,500    3,190,327    3,554,713
    Research and
     Development Expenses     885,305     836,067    1,658,425    1,675,444
    Interest (Income)
     Expense, Net              83,013      18,685      148,325       (8,771)
    Other Income, Net        (242,901)    (44,677)    (365,512)    (188,162)
                             --------     -------     --------     --------
    Income before Income
     Taxes                  1,806,264   1,618,846    3,494,716    3,
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SOURCE Wyeth
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