Wyeth beats Street

WYE reported third quarter adjusted diluted EPS of $0.81, $0.05 better than the Street's estimate of $0.76 and up 8% from $0.75 in the same period in 2004. Results exclude certain significant items, including restructuring charges and tax charges and adjustments. Third quarter revenues increased 5% to $4.7 billion, including 3.9 billion in worldwide pharmaceutical sales.

Antidepressants Effexor and Effexor XR posted third quarter sales of $861 million, down 4% from the same period in 2004. Ex-North American sales of Enbrel, which is marketed for rheumatoid and psoriatic arthritis, psoriasis and ankylosing spondylitis, came in at $276 million, up 59% from the third quarter of 2004. WYE has exclusive rights to Enbrel outside North America from Amgen (AMGN), which reported its results on Wednesday (see BioCentury Extra, Wednesday Oct. 19, 2005). ...