Q4 profits: Wyeth; Biocon

Wyeth's first-quarter earnings have risen 44 percent as sales of its vaccine against childhood infections more than doubled and sales of arthritis treatment Enbrel and other prescription drugs rose.

The New Jersey-based company earned US$1.08 billion, or 80 cents a share, compared with $749.7 million, or 55 cents a share, in the year-ago quarter.

Wyeth said it expects full-year earnings to top the upper end of its prior range of earnings between $2.70 and $2.80 a share. The improved forecast would reflect earnings growth of 7 per cent or more.

Revenue rose 14 percent to $4.6 billion in the quarter, but would have risen 12 percent if not for the weak dollar, which raises the value of overseas sales when they are converted back to dollars.

Wyeth said it remains on track to seek US approval late this year or in early 2006 of its experimental drug DVS-233 as a treatment for depression.

India's Biocon Q4 profit falls

India's largest biotech company, Biocon, has reported that its fourth-quarter earnings fell 7.6 per cent on pricing pressures.

Biocon said profits would not keep pace with revenue growth in the year to March 2006 because of spending on expansion and research to drive new drugs and markets.

Chairwoman Kiran Mazumdar-Shaw said the company's investments were aimed at increasing its market share in services such as contract research and clinical trials, and it share of the market for diabetes and cancer drugs in her statin-dominated business.

Net profit in the fiscal fourth quarter to end-March fell to 351.9 million rupees (AUD$10.3 million).