8-K

                                 UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                        PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

       DATE OF REPORT (Date of earliest event reported): March 21, 2005

                                      Wyeth
             (Exact name of registrant as specified in its charter)



      Delaware                        1-1225                    13-2526821
(State or other jurisdiction       (Commission File            (IRS Employer
of incorporation)                   Number)                 Identification No.)




Five Giralda Farms, Madison, New Jersey                           07940
(Address of Principal Executive Offices)                       (Zip Code)



        Registrant's telephone number, including area code:  973-660-5000


     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     [ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

     [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

     [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

     [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))




Item 7.01.  Regulation FD Disclosure

     Attached hereto as Exhibit 99 is a press release, dated March 21, 2005,
relating to the Company's 2005 Earnings Guidance which is incorporated herein by
reference.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits.

99   Press Release, dated March 21, 2005, regarding Wyeth's 2005 Earnings
     Guidance.


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                         WYETH

                                         By:   /s/ Kenneth J. Martin
                                                   Kenneth J. Martin
                                               Executive Vice President and
                                               Chief Financial Officer
                                               (Duly Authorized Signatory)


Dated:  March 21, 2005



                               EXHIBIT INDEX

Exhibit No. Description

   99       Press Release, dated March 21, 2005, regarding Wyeth's 2005 Earnings
            Guidance.

EX-99

[Wyeth Logo]                                          N E W S  R E L E A S E

IMMEDIATE RELEASE

Media Contact:                              Investor Contact:
Doug Petkus                                 Justin Victoria
Wyeth                                       Wyeth
(973) 660-5218                              (973) 660-5340


           Wyeth Comments on Earnings Guidance for 2005 First Quarter;
                           Addresses Analyst Estimates


     Madison, N.J., March 21, 2005 - Wyeth (NYSE: WYE) commented today on the
significant difference between its 2005 first quarter business trends and the
current First Call mean analyst estimate of $0.67 diluted earnings per share.
Wyeth indicated that, given the strong performance of a number of its key
brands, continued favorable exchange rates and other factors, pro forma diluted
earnings per share for the 2005 first quarter is expected to be in the mid to
upper seventy cent range or higher. The Company reaffirmed its 2005 full year
pro forma diluted earnings per share guidance of $2.70 to $2.80, but added that,
if current business trends continue, full year earnings could reach the higher
end of the range. For the 2005 third quarter, the Company noted that pro forma
diluted earnings per share may be down versus the prior year and lower than the
First Call mean analyst estimate, primarily due to planned higher R&D spending.

     These 2005 estimates are considered pro forma as they exclude all
share-based compensation, which will be recorded in accordance with the recently
issued Statement of Financial Accounting Standards (SFAS) 123R, Share-Based
Payment, as well as any potential one-time impact, if any, from the repatriation
of permanently reinvested earnings from foreign subsidiaries under the American
Jobs Creation Act.

     The Company will hold a conference call with research analysts at 5:00 p.m.
Eastern Time today. The purpose of the call is to review 2005 earnings guidance.
Interested investors and others may listen to the call live or on a delayed
basis through the internet webcast, which may be accessed on the Company's
Internet website at www.wyeth.com by clicking on the "Investor Relations"
hyperlink. Also, for recent announcements and additional information, please
refer to the Company's Internet website.

     Wyeth is one of the world's largest research-driven pharmaceutical and
health care products companies. It is a leader in the discovery, development,
manufacturing, and marketing of pharmaceuticals, vaccines, biotechnology
products and nonprescription medicines that improve the quality of life for
people worldwide. The Company's major divisions include Wyeth Pharmaceuticals,
Wyeth Consumer Healthcare, and Fort Dodge Animal Health.

     The statements in this press release that are not historical facts are
forward-looking statements based on current expectations of future events that
involve risks and uncertainties including, without limitation, risks associated
with the inherent uncertainty of the timing and success of pharmaceutical
research, product development, manufacturing, commercialization, economic
conditions including interest and currency exchange rate fluctuations, changes
in generally accepted accounting principles, the impact of competitive or
generic products, trade buying patterns, wars or terrorist acts, product
liability and other types of lawsuits, the impact of legislation and regulatory
compliance and obtaining reimbursement, favorable drug pricing, access and other
approvals, environmental liabilities, and patent, and other risks and
uncertainties, including those detailed from time to time in the Company's
periodic reports, including current reports on Form 8-K, quarterly reports on
Form 10-Q and the annual report on Form 10-K, filed with the Securities and
Exchange Commission. Actual results may vary materially from the forward-looking
statements. The Company assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information, future
events or otherwise.

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