Pharmalot… Pharmalittle… Your Earnings
Make a commentBy Ed Silverman // July 19th, 2007 // 8:42 am
Yes, this is one of those days when a barrage of numbers comes streaming from drugmakers. To help you get started, here are a few summaries, although you can read the full reports by clicking the appropriate link….
Wyeth reported higher-than-expected second-quarter earnings on strong drug sales, and raised its profit forecast for the year. Profits totaled $1.2 billion, or 87 cents per share, up from $1.06 billion, or 78 cents. Excluding special items, Wyeth earned 90 cents, beating estimates of 87 cents. Revenue rose 10 percent to $5.65 billion. Drug sales rose 11 percent to $4.75 billion. Meanwhile, Wyeth says 7 products may be launched in the next 18 months.
Roche reported a 24 percent increase in first half-net income, thanks to strong sales of its cancer drugs, Avastin and Herceptin. The drug maker says net profit increased to $4.1 billion in the six months ended June 30. Roche also expects both drug and diagnostics to grow at a faster pace than their respective markets.
Ranbaxy Laboratoriessays profit doubled in the second quarter thanks, in part, rising demand for generics. Profit rose to $65.5 million, and group revenue increased by 12 percent. “On a global basis, we will be launching close to 100 products in the second half of this year,” ceo Malvander Singh told reporters.