Wyeth’s Irish subsidiary slipped into the red in 2009

RESTRUCTURING costs at an Irish subsidiary of pharmaceutical firm Wyeth pushed the company into the red in 2009, new figures show.

Accounts filed by the US-owned Wyeth Pharmaceuticals Ltd show that the firm recorded a pre-tax loss of €716,602 to the end of November 2009 and this followed a pre-tax profit of €10 million in 2008.

The figures show that the company’s revenues in 2009 decreased by 9% from €106.8m to €97.3m. However, the 2009 period was for 11 months compared with 12 months in 2008.