Wyeth Reverses Last Year's Loss
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Wyeth WYE.N on Wednesday reported a  third-quarter profit, reversing a loss in the year-ago period,  when it took a $2 billion charge for liabilities from its  recalled "fen-phen" diet medicines.
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Few companies make flu vaccines because they say they are more trouble than they are worth. By DAVID BROWN. Wyeth Pharmaceuticals doesn&#39;t make flu shots anymore, and it doesn&#39;t miss them.
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The carrier said it was hampered by high fuel prices in the fourth quarter but was able to post a narrower loss, $70 million compared to a loss of $1.98 billion a year earlier,  on a solid increase in sales.
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Shares of Wyeth WYE.N and Pfizer  Inc. PFE.N fell on Monday after Merrill Lynch downgraded the  drugmakers and U.K. regulators issued tougher warnings on the  type of popular depression drugs sold by the companies.
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The drug company posts a wider Q3 loss than a year ago.
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U.S. forest products company Weyerhaeuser Co.  posted a quarterly profit on Friday, versus a year-earlier loss, helped by a refund of duties and an increased profit from its real estate business.
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Power company Dynegy Inc. (DYN.N: Quote, Profile, Research) on Wednesday said it will restate results for 2003 and the first two quarters of this year to reflect a goodwill impairment
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Warner Music Group reported a narrower loss Monday, crediting a restructuring effort that cut costs.
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The British drugmaker looks to regain momentum this year.
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British insurer and fund manager HHG was back in the black at the half-year stage today as it recovered from losses of Â£902m (â¬1.
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WILMINGTON, Del. -- Chemical company Hercules Inc. posted a third-quarter loss, weighed down by a charge, and said it will restate results for certain quarters after it reviewed its accounting practices.
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Shares of Wyeth  and Pfizer Inc.  fell on Monday after Merrill Lynch downgraded the drugmakers and U.K. regulators issued tougher warnings on the type of popular depression drugs sold by the companies.
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Drugmaker Wyeth WYE.N has reached a  tentative framework with a group of plaintiffs' lawyers to  settle nearly all remaining liability cases stemming from  allegations that some of its diet drugs damaged heart valves,  the Wall Street Journal reported on Tuesday, citing people  familiar with the negotiations.
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Wyeth WYE.N on Monday said it will  support proposed changes to a national settlement with former  users of its "fen-phen" diet drugs, allowing quicker  settlements for claims related to some of the less serious side  effects from the recalled appetite suppressants.
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Wyeth, the largest maker of hormone-replacement medicines used during menopause, won dismissal of a lawsuit in Minnesota linking its Premarin and Prempro drugs to breast cancer.
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Genzyme Corp. of Cambridge, Mass., agreed Thursday to buy back the sales and marketing rights for Synvisc, a pain treatment for people suffering from osteoarthritis of the knee, from Wyeth Pharmaceuticals of Collegeville, Pa.
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Like-for-like rise of around 5% on previous year.