Pfizer (NYSE: PFE) - Big Pharma's Q3 Earnings Report

FiercePharma says: Pfizer's earnings came in at $866 million, or 11 cents per share after charges--much lower than the $2.88 billion or 43 cents per share from 2009's third quarter. The earnings were higher than expected (54 cents per share before charges, compared to the 51 cents expected), but sales were disappointing. The company was hit hard by generic competition, especially for its blockbuster Lipitor, whose sales dropped 11 percent. Emerging market sales were stagnant as well. Still, Pfizer's upped its 2010 expectations, from $2.20 per share to $2.17 to $2.22.

Highlights

  • Third-Quarter 2010 Revenues of $16.2 Billion
  • Third-Quarter 2010 Adjusted Diluted EPS(1) of $0.54; Reported Diluted EPS(2) of $0.11
  • Tightens Ranges for 2010 Financial Guidance Components, Increases Range for Adjusted Diluted EPS(1) and Reduces Range for Reported Diluted EPS(2); Reaffirms 2012 Financial Targets
  • Advances Strategic Priorities with Agreement to Acquire King Pharmaceuticals, Inc.,Acquisition of FoldRx, Alliance with Biocon and Pending Alliance with Laboratorio Teuto Brasileiro S.A.; Reviewing Alternatives for Capsugel

See Pfizer's current stock quote from CNN Money

Pfizer's website: http://www.pfizer.com/
Full earnings: Pfizer release

Pfizer (NYSE: PFE) - Big Pharma's Q3 Earnings Report
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