U.S. drugmaker Wyeth on Wednesday said it may have to set aside "significant" new cash reserves in the future for patients who claim they were harmed by the company's two "fen-phen" diet drugs that were recalled in 1997.
Earlier on Wednesday, the Madison, New Jersey drugmaker posted a third-quarter loss after taking a $2 billion charge for new fen-phen reserves. It had already taken more than $14 billion in charges to cover potential liability to the estimated 6 million Americans who once took its Redux and Pondimin diet drugs used in the fen-phen cocktail.
The drugmaker also told analysts on a conference call that it continues to expect full-year 2003 earnings of $2.40 per share to $2.50 per share, excluding special items.
10/22/03
