FiercePharma says: Pfizer reported net income of $2.5 billion, or 31 cents a share, during the second quarter, representing an increase of nine percent compared with the same quarter last year. Although sales of blockbuster Lipitor, which faces looming generic competition, continued to slow, Pfizer got a boost from its acquisition of Wyeth. Pfizer's revenue increased 58 percent to $17.3 billion. Revenues were favorably impacted by $5.4 billion, or 50 percent, due to the addition of the legacy Wyeth products, by $315 million, or three percent, due to legacy Pfizer products, and by $584 million, or five percent, due to foreign exchange, the company says in a statement.
- Second-Quarter 2010 Revenues of $17.3 Billion
- Second-Quarter 2010 Reported Diluted EPS(1) of $0.31, Adjusted Diluted EPS(2) of $0.62
- Reaffirms 2010 Financial Guidance and 2012 Financial Targets
- Strong Quarterly Performance Reflects More Balanced Business Mix and Product Portfolio
Pfizer's website: http://www.pfizer.com/
Full earnings: Pfizer's earnings