US pharmaceutical company has raised its 2006 earnings forecast, citing its first-half performance and the success of key pharmaceutical products.
The Madison, New Jersey-based drug maker forecast earnings of $3.12 to $3.18 per share, excluding any restructuring charges from its continuing review of business processes and systems.
Wyeth said the new forecast assumes, among other things, the passage of research and development tax credit legislation, which it expects to be made retroactive to January 1.
In July, the drug maker said full-year earnings would be above $3.07 per share.
The forecast comes ahead of the drug maker's meeting for analysts and investors, at which it is expected to detail its experimental product pipeline.
Yesterday, a Philadelphia jury awarded a woman $1 million and her husband $500,000 in compensatory damages after finding that Wyeth's hormone-replacement drug Prempro was a cause of her breast cancer.