Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Advil sales help Wyeth: Worldwide net revenue increased by 10 percent to $5.8 billion for Madison, N.J.-based Wyeth's fourth quarter and 10 percent to $22.4 billion for its fiscal 2007, according to the firm's Jan. 30 earnings release. Worldwide consumer healthcare net revenue increased 10 percent for the October-December period and 8 percent for 2007, driven by Advilproducts and by Centrum, Caltrate andChapstick. Advilsales increased 8 percent to $186 million for the quarter and 10 percent to $684 million for the year; and Centrumsales showed a boost of 13 percent in the quarter to $204 million and 7 percent for the year, finishing at $705 million, according to the release. These results were offset by lower sales of Dimetapp and Robitussin due to a voluntary recall and replacement program the firm conducted in November (1"The Tan Sheet" Nov. 5, 2007, p. 8). For the year, Wyeth reported its diluted earnings per share increased 10 percent to $3.38. Wyeth is planning its own generic of its proton pump inhibitor Protonix (pantoprazole) to fend off competition, but says it has not considered switching the product to OTC. The firm says it is projecting workforce reductions of between 4 percent to 6 percent by the end of the first half of 2008...
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