Wyeth forecast flat revenue and lower earnings for this year due to generic competition for its blockbuster Protonix heartburn med and other generic competition. The forecast hinges on keeping R&D spending flat and trimming other expenses, such as 10 percent of its workforce. The drugmaker reported fourth-quarter earnings rose to $1 billion, or 75 cents, from $855 million, or 63 cents, a year ago, on higher sales of its Enbrel arthritis drug and Prevnar vaccine. Excluding one-time items, profits were 78 cents. Revenue rose 10 percent to $5.8 billion. Read more here and here.

Bristol-Myers Squibb narrowed its loss in the fourth quarter thanks to rising sales of its Plavix bloodthinner, which partially offset charges including investments backed by sub-prime securities. Net loss was $89 million, or 5 cents, compared with a loss of $134 million, or 7 cents, a year earlier. Profit from continuing operations excluding some items was 35 cents a share, beating the 34-cent average estimate of 16 analysts surveyed by Bloomberg News. Revenue rose to $5.4 billion from $4.1 billion. (This is the earnings release).

IMS Health reported a lower fourth-quarter net profit on restructuring charges. Net income was $18 million, or 9 cents a share, compared with $65.5 million, or 32 cents per share, a year ago. The restructuring charge of $88.7 million reduced fourth-quarter earnings by 32 cents a share; excluding charges, the company earned 43 cents. Here’s the complete statement.

Celgene reported fourth-quarter net income of $75.3 million, or 18 cents, up from $22.9 million, or 6 cents, a year earlier, while revenue rose 51 percent to $414.6 million. Sales of Revlimid, Celgene’s flagship cancer drug, doubled to $247.4 million. You can the complete statement here.

Novo Nordisk posted a 2 percent drop in 2007 operating profit, but beat analyst expectations and forecasts higher profits this year. The world’s biggest maker of insulin reported earnings before interest and taxes fell to $1.77 billion, while sales rose 8 percent. Read more here.