US drugmaker Wyeth turned in a solid set of results for the first of 2007, with earnings climbing 12% to $1.25 billion as strong performances by Enbrel and Prevnar countered declines elsewhere.
Revenues from pharmaceutical products grew 11% to $4.5 billion, driven by turnover of the pneumococcal disease vaccine Prevnar, which leapt 43% to $617 million, and the arthritis therapy Enbrel (etanercept), which jumped 33% to $445 million (excluding the USA and Canada, where it is sold by Amgen).
Effexor drops 6%
On the downside: revenues from the antidepressant Effexor (venlafaxine), slipped 6% to $891 million (on generic competition); the gastrointestinal drug Protonix (pantoprazole) dipped 2% to $474 million; and the hormone replacement franchise Premarin (conjugated oestrogens) fell 9% to $241 million.
But Wyeth is clearly pleased with its performance during the quarter. Said Robert Essner, chairman and chief executive: "Wyeth’s financial performance in the 2007 first quarter was again outstanding."
And looking forward the group is also optimistic. "The company added momentum to our new product pipeline by successfully completing anumber of important clinical trials for Pristiq (desvenlafaxine succinate), for vasomotor symptoms and depression, Viviant (bazedoxifene) for osteoporosis, and Aprela (bazedoxifene/conjugated estrogens) for osteoporosis and vasomotor symptoms,” Essner noted.