July 19 (Bloomberg) -- Wyeth's earnings jumped 13 percent in the second quarter on higher sales for the arthritis drug Enbrel and the pneumonia vaccine Prevnar, spurring the company to raise its 2007 forecast.

Net income increased to $1.2 billion, or 87 cents a share, from $1.06 billion, or 78 cents, a year earlier, the Madison, New Jersey-based drugmaker said today in a statement. Earnings excluding some items were 90 cents, beating by 3 cents the average estimate of 16 analysts surveyed by Bloomberg.

Revenue for Wyeth, the world's largest maker of female hormones, rose 9.5 percent to $5.6 billion as both Prevnar, added last year to European immunization programs, and Enbrel recorded higher sales outside the U.S. The gains helped Wyeth boost profit as it begins marketing the recently approved contraceptive Lybrel and kidney cancer drug Torisel, and seeks clearance this year for at least three other products.

``Strong growth for Enbrel and Prevnar internationally should fuel earnings growth for the next few years,'' said Barbara Ryan, an analyst with Deutsche Bank in New York, in a telephone interview today.

Wyeth's shares fell 28 cents to $56.33 at 4:00 p.m. in New York Stock Exchange composite trading. The stock has climbed 11 percent since Jan. 1.

The stock dipped because the company didn't comment on when its experimental drug Pristiq might be cleared for sale, Ryan said. ``The silence on Pristiq may have spooked some investors, but I expect it to be approved.'' Ryan said.

Seven Quarters

Wyeth, which has now recorded profit increases for seven straight quarters, raised its full-year 2007 earnings forecast to a range of $3.48 to $3.56. In January, the company had projected a range of $3.40 to $3.50.

``The future is bright as we prepare for the launch of seven new products in the next 18 months,'' said Wyeth Chief Operating Officer Bernard Poussot during a conference call with investors today.

The company will start selling Lybrel and Torisel this month, he said. Lybrel's annual sales could reach $250 million, and Torisel may achieve $500 million, Wyeth said.

Wyeth needs to sustain revenue from existing drugs and add new ones to offset losses when its best-seller, the antidepressant Effexor, loses patent protection in 2010.

By the end of the year, Wyeth may receive U.S. clearance for Pristiq, a menopause and depression medicine derived from Effexor; Viviant, a pill to prevent menopausal bone loss; and the schizophrenia drug bifeprunox.

Pristiq

Pristiq, which faces a U.S. regulatory decision next week, may have peak annual sales of $2 billion, Poussot said. Viviant on its own and in a combination pill with estrogen could also have yearly sales of $2 billion. Bifeprunox sales could reach $1 billion a year.

Wyeth resolved quality control lapses during the quarter at its plant in Puerto Rico, where Lybrel, Pristiq, Viviant and bifeprunox are all manufactured, eliminating potential delays for new drug approvals.

Pharmaceutical revenue climbed 11 percent to $4.75 billion.

Sales of Prevnar rose 22 percent to $633 million. The vaccine, introduced in 2000, targets strains of the Streptococcus pneumoniae bacterium, which causes spine and bloodstream infections.

Enbrel revenue outside the U.S. and Canada jumped 37 percent to $508 million. Wyeth's marketing partner Amgen, reports earnings from the arthritis drug inside the U.S. and Canada.

Effexor

Revenue from the Effexor line of products increased 6 percent to $977 million. Effexor faced competition from cheaper generic copies of Pfizer Inc.'s depression drug Zoloft.

The heartburn pill Protonix grew by 25 percent, to $550 million.

Revenue from the hormone-replacement therapies Premarin and Prempro rose 3 percent to $267 million. Women and their doctors shied away from the hormones after U.S. studies linked the pills to higher risk of breast cancer and heart disease.

On July 16, the company settled a lawsuit by a terminally ill woman who blamed Prempro for her breast cancer. Wyeth faces about 5,200 lawsuits over its hormones, according to a May filing with the U.S. Securities and Exchange Commission.

To contact the reporter on this story: Lisa Rapaport in New York at Lrapaport1@bloomberg.net

Last Updated: July 19, 2007 16:12 EDT