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Update 4: Wyeth 3Q Profit Down to $869.9M on Charges

...Those results included charges of 5 cents per share for restructuring and 12 cents per share for repatriating about $3.1 billion in foreign earnings.

Excluding those charges, income totaled $1.1 billion, or 81 cents per share, 5 cents more than the consensus of analysts surveyed by Thomson Financial.

The year-ago results - net income of $1.42 billion, or $1.05 per share - were boosted by a gain of 30 cents per share from a favorable tax adjustment.

Revenue rose 5 percent to $4.72 billion from $4.47 billion last year, driven by sales of severe-heartburn drug Protonix, Enbrel for rheumatoid arthritis and children's pneumococcal vaccine Prevnar.

Bernard Poussot, head of Wyeth's pharmaceutical operations, said pneumococcal infections in young children are down 94 percent since the vaccine was introduced in 2000.

He said sales of Wyeth's biological, or genetically engineered, drugs exceeded $1 billion for the first time.

Those include Enbrel and Prevnar, as well as hemophilia medicines BeneFIX and ReFacto.

"Wyeth is becoming one of the largest biotech companies in the world," and now is ranked No.

4, Poussot told The Associated Press in an interview.

Pharmaceuticals sales totaled $3.87 billion, up 7 percent from a year ago.

North American sales of Enbrel, which Wyeth markets with partner Amgen, rose 34 percent to $641 million.

Outside North America, Wyeth sells Enbrel alone and saw a 59 p...

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