Wyeth beats Street EPS
WYE reported first quarter 2005 EPS of $0.80, $0.03 better than the consensus estimate and $0.24 better than EPS of $0.62 in the same period in 2004. First quarter EPS excludes certain significant items and gains from product divestitures. First quarter revenues increased 14% to $4.6 billion, including $3.7 billion in worldwide pharmaceutical sales.
WYE's Effexor and Effexor XR posted first quarter sales of $868 million, up 12% quarter over quarter. Ex-North American sales of rheumatoid arthritis (RA), psoriatic arthritis and ankylosing spondylitis drug Enbrel came in at $237 million, up 75% over the first quarter of 2004. WYE has exclusive rights to Enbrel outside North America from Amgen (AMGN), which is expected to report its earnings on Thursday. ...