Wyeth third quarter
This article was originally published in The Tan Sheet
Executive Summary
Wyeth Consumer Healthcare's recent divestiture of theSolgar supplement business contributed to a 4.7% dip in domestic revenues for the third quarter, the firm reported during an earnings call Oct. 21.Wyeth closed the sale of its Solgar business to NBTY for $115 mil. on Aug. 1. Domestic sales for the division during the quarter closed at $382.5 mil., down from $401.5 mil. during the third quarter of 2004. Losses due to Solgar were partially offset by gains in worldwide Centrum revenues, up 14% to $150 mil. for the third quarter, the company said. Growth during the first nine months for the division was driven by a global increase in Robitussin, Caltrate and Advil sales. When excluding the impact of foreign exchange, total worldwide consumer net revenue decreased by 4% for the third quarter, Wyeth stated...