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Revenues Up for Pharma Giant

by 5m Editor
23 January 2008, at 3:16pm

NEW YORK - Global Pharmaceutical leader Pfizer has released its financial results for the fourth-quarter and full-year 2007

For the fourth-quarter last year, the company recorded revenues of $13.1 billion, an increase of four per cent compared with $12.6 billion for the same quarter in 2006. This is good news since the company lost US exclusivity for two key human health products - Norvasc and Zoloft - a loss that substantially dented revenue.

Margins have also been affected by foreign exchange, which increased revenues by approximately $610 million or five per cent, and the strong performance of many new and in-line products.

Animal Health revenues for the fourth-quarter 2007 were $785 million, an increase of two per cent compared with $655 million for the same period in 2006. For the full-year 2007, Animal Health revenues were $2.6 billion, an increase of 14 per cent compared with $2.3 billion in 2006. The growth is attributed to strong product performance, and a favourable foreign exchange, which bolstered revenues.

Key points:

  • Fourth-Quarter 2007 Revenues of $13.1 Billion Increased from $12.6 Billion in the Year-Ago Quarter
  • Fourth-Quarter 2007 Reported Diluted EPS of $0.42 Compared with $1.32 in the Year-Ago Quarter, which Included the $1.08 EPS Gain on the Sale of the Consumer Healthcare Business
  • Fourth-Quarter 2007 Adjusted Diluted EPS(1) of $0.52 Increased from $0.43 in the Year-Ago Quarter
  • Full-Year 2007 Revenues of $48.6 Billion Increased from $48.4 Billion in 2006
"In 2007, we delivered solid performance, and made structural and operational changes to enhance the future performance of our company," said Chairman and Chief Executive Officer Jeff Kindler.
"This performance highlights not only Pfizer’s operating and financial strength, but also our determination to meet our objectives in a challenging marketplace," he added.

5m Editor