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Wyeth Guides in Line

It expects to make around $3.15 a share for the year.
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Wyeth (WYE) guided in line for the year, citing a solid first half.

The Madison, N.J., drugmaker said it expects to make $3.12 to $3.18 a share, excluding any potential restructuring charges from its ongoing review of business processes and systems. Analysts were looking for $3.13.

CEO Robert Essner cited the success of key pharmaceutical products. The revised guidance for 2006 represents an increase of 13%-16% over 2005 pro forma diluted earnings per share. Wyeth said the forecast assumes, among other things, the passage of the R&D Tax Credit legislation that is currently being debated by Congress and that the credit will be made retroactive to Jan. 1, 2006.

The news comes as the company prepares for an 8 a.m. EDT analyst meeting.

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