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Home > Fortune 500 Companies > Wyeth
Wyeth
Wyeth is a publicly traded company having a good stock performance result. Wyeth is a fortune 500 stock listed company trading under WYE.
The company was founded in 1926. It was formerly known as American Home Products Corporation and changed its name to Wyeth in 2002. The company has more than 60 years; Wyeth has been the leader in Woman’s Health with its postmenopausal hormone therapies and oral contraceptives. Wyeth formed the Women’s Health Research Institute the only institute in the pharmaceutical industry dedicated solely to research in women’s health and currently invests more than 130 million dollars annually in clinical research.
The company reports earnings results for the 2005 third quarter and first 9 months worldwide net revenue increased 5 percent to 4.7 billion dollars for the 2005 third quarter and 10 percent to 14.0 billion dollars for the 2005 first 9 months. Excluding the favorable impact of foreign exchange, worldwide net revenue increased 4 percent for the 2005 third quarter and 9 percent for the 2005 first 9 months.
Reported net income and diluted earnings per share for the 2005 first nine months were 2,924.6 million dollars and 2.16 dollars, respectively, compared with 2,998.3 million dollars and 2.22 dollars in the prior year. The 2005 first 9 months included net restructuring charges of 95.8 million dollars related to the productivity initiatives and an income tax charge of 170.0 million dollars recorded in connection with the Company's decision to repatriate foreign earnings, as discussed above.
The 2004 first 9 months included a charge of 145.5 million dollars, within Research and Development Expenses related to an upfront payment to Solvay Pharmaceuticals and a favorable income tax adjustment of 407.6 million dollars as noted above. Net income and diluted earnings per share, before certain significant items, were 3,158.0 million dollars and 2.33 dollars, respectively, for the 2005 first nine months compared with 2,685.3 million dollars and 1.99 dollars in 2004. The 2005 first 9 months increase in net income and diluted earnings per share, before certain significant items. Included in other income, net were pre-tax gains from product divestitures amounting to approximately 180.0 million dollars and 165.0 million dollars in the 2005 and 2004 first 9 months, respectively.
Their mission is they bring to the world pharmaceutical and health care products that improve lives and deliver outstanding value to their customers and shareholders.
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