Wyeth reports 2 per cent increase in worldwide net revenue

Wyeth has reported a two per cent worldwide net revenue increase over 2008, as part of the company’s full year financial results.

Now at $22.8 billion (15.94 billion pounds), the result was joined by a one per cent rise, due to the impact of foreign exchange.

However, the organisation added its proceeds over the fourth quarter fell seven per cent to $5.3 billion.

Bernard Poussot, chairman, president and chief executive officer of the group, said the company had “met its expectations” over 2008, despite the current economic climate.

He continued: “Our performance was led by strong, consistent contributions from our core product franchises – Enbrel, Prevnar and Nutritionals, revenue from new products and ongoing cost containment efforts.”

Mr Poussot added the organisation’s “diversified revenue base” helped to lessen the impact of the economic downturn.

In October last year, Wyeth reported its worldwide net revenue had increased four per cent to $5.8 billion, while its dividend to stockholders rose 7.1 per cent.