Wyeth posts 6% loss in worldwide revenue

MADISON, N.J. Wyeth, which agreed last month to an acquisition by Pfizer, posted a 6% decrease in worldwide net revenue in first quarter 2009, according to a financial report released Wednesday.

The drug maker’s worldwide net revenues decreased to $5.4 billion. Excluding the unfavorable affect of foreign exchange rates, they increased by 2%.

“Wyeth delivered a solid first quarter led by double-digit growth in constant dollars fro core product franchises Enbrel, outside the U.S. and Canada, Prevnar and nutritionals,” Wyeth chairman, president and CEO Bernard Poussot stated. “Enbrel and Prevnar are the top products in their categories as more patients around the world benefit from Wyeth’s innovative medicines.”

Enbrel (etanercept), used to treat psoriasis and arthritis, had global sales of $867 million, seeing a 3% increase in sales outside the United States and Canada but a 26% decrease within those two markets compared with first quarter 2008. The pediatric pneumococcal vaccine Prevnar (pneumococcal 7-valent conjugate vaccine [diphtheria CRM197 protein]), had sales of $755 million, a 7% increase over first quarter 2008.

OTC products in the Centrum and Advil families had sales of $163 million and $159 million, experiencing decreases of 13% and 7% over last year, respectively.