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Wyeth predicts drug resurgence

28th February 2008

Wyeth’s head of global pharmaceuticals has assured analysts and investors that interest in the company’s experimental drug portfolio would pick up following up and coming regulatory approval of its new drug pipeline.

Joseph Mahady was speaking amid speculation that many investors had lost faith in the company’s portfolio of late-stage experimental drugs due to several knock-backs from regulatory bodies.

Reuters reports that Mr Mahady highlighted a number of forthcoming candidates that would secure big earnings for the pharmaceutical firm in the near future.

He suggested that Wyeth’s Relistor treatment for constipation from opioid painkillers was set to bring a over $1 million a year and that its Aprela treatment for osteoporosis could net over $2 billion a year for the company.

Speaking to the news provider, Mr Mahady stated: “Once the next few of our drugs are approved, people will see these were just temporary delays and that will put the light back on our products in late-stage testing or awaiting approval at the US Food and Drug Administration.”

Earlier this month, Wyeth Consumer Healthcare, a division of Wyeth, announced that Isma Benattia had been appointed as its new head of global research and development.

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