In a pharma sector that has given positive signals (it was the turn of the giants Merck and Novartis on Monday), there are still those who, in the case of Wyeth, feel the competition from generic drugs heavily. The New Jersey-based group recorded sales up 5.6% to $5.7 billion in the quarter, largely attributable to the positive effects of currency movements, but saw profits fall by 4.0% to 1, 2 billion, equal to 89 cents per share. Results that have disregarded the forecasts of analysts, who had predicted earnings per share above 90 cents on the dollar.
Finance and Markets of 23/04/2008 p. 13
