Pharmaceuticals led the strong performance supported by contributions from Vaccines and Diagnostics and Consumer Health. Net sales rose 9% (+5% in local currencies, or lc) to USD 41.5 billion. Higher sales volumes provided six percentage points of growth, while positive currency translation added four percentage points. Price changes had a negative effect of one point, while acquisitions had no impact.

Pfizer Inc announced today the discontinuation of a Phase III study of its investigational agent axitinib for the treatment of advanced pancreatic cancer. Based on an interim analysis, an independent Data Safety Monitoring Board (DSMB) found no evidence of improvement in the primary endpoint of survival in patients treated with axitinib and gemcitabine, compared to gemcitabine alone, the current standard of care for patients with advanced pancreatic cancer.

AstraZeneca has delivered a robust performance in an increasingly challenging market environment. Good headway is being made in further improving the efficiency of the organization, and the expansion in the scope of our restructuring efforts is another important step towards sustaining long-term competitiveness.

Bristol-Myers Squibb posted fourth quarter 2008 net sales from continuing operations of $5.2 billion, an increase of 4%, or 8% excluding foreign exchange impact, compared to the same period in 2007. Pharmaceutical net sales totaled $4.5 billion and sales from Mead Johnson Nutrition Company totaled $707 million in the fourth quarter of 2008, representing increases of 4% and 6%, respectively, compared to 2007.

GlaxoSmithKline plc (GSK) has signed an agreement with UCB S.A to acquire its current marketed product portfolio across certain territories in Africa, the Middle East, Asia Pacific and Latin America, for a cash consideration of €515 million (£483 million).

Pfizer (NYSE: PFE) and Wyeth (NYSE: WYE) today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Wyeth in a cash-and-stock transaction currently valued at $50.19 per share, or a total of approximately $68 billion. The Boards of Directors of both companies have approved the combination.

Novartis has announced the launch of Extavia®, a new version of the standard-of-care for relapsing forms of multiple sclerosis (MS), providing patients and physicians with an alternative option to help manage this devastating disease.