Breaking News, World News and Taiwan News.

Pfizer fourth-quarter net profit sees a jump on sale of nutrition business

AP
January 31, 2013, 12:06 am TWN

SHARE CLOSE


Blogger		Google+


Live Journal		Plurk


Stumble Upon

NEW YORK--Pfizer Inc.'s fourth-quarter profit more than quadrupled, despite competition from generic drugs hurting sales of Lipitor and other medicines, because of a US$4.8 billion gain from selling its nutrition business. The drugmaker's profit and sales both beat Wall Street expectations.

The world's biggest drugmaker said Tuesday that its net income was US$6.32 billion, or 85 cents per share, up from US$1.44 billion, or 19 cents per share, a year earlier.

Excluding the windfall from selling its nutrition business to Nestle SA for US$11.5 billion on Nov. 30, and a total of US$888 million for restructuring, legal and other one-time items, the Viagra maker would have had a profit of US$3.51 billion, or 47 cents per share. That's 3 cents more than analysts surveyed by FactSet were expecting.

In early trading, the New York-based company's shares rose 26 cents, or 1 percent, to US$27.10.

Revenue fell 7 percent to US$15.1 billion, mainly due to generic competition to cholesterol blockbuster Lipitor. Analysts expected US$14.35 billion.

SHARE CLOSE


Blogger		Google+


Live Journal		Plurk


Stumble Upon

	PREVIOUS ARTICLE
	Markets steady ahead of Fed Reserve statement

NEXT ARTICLE
Spanish media industry takes more gloomy attitude on 2013 advertising



	In this Jan. 31, 2011 photo, the Pfizer logo is displayed at the drug company's world headquarters in New York. Pfizer Inc. said Tuesday, Jan. 29 that its fourth-quarter profit more than quadrupled, despite competition from generic drugs hurting sales, because of a US$4.8 billion gain from selling its nutrition business.(AP) Enlarge Photo

Sponsors
▪	EyewearCanada.com offers prescription glasses from $5.95. 100% Satisfaction guaranteed.
▪	Buy cheap eyeglasses online and save up to 80% over regular retail price when you buy prescription eyeglasses at cheapglasses123.com.
▪	Myreviewsnow.net offer you the power of making informed purchases before you buy, with product reviews and online consumer myreviewsnow.net.
▪	Save 75% for all hotels in Shanghai, Beijing and whole China. Lowest rates for Flights in China.
▪	GlobalMarket.com is the largest China suppliers B2B directory can help you find quality made in China products, Promotional Products.
▪	Buy china wholesale products from reliable chinese wholesalers on DHgate.com!
▪	"Dress First is the leading supplier of all kinds of dresses. You can buy your favorite suknie ślubne here."
▪	The best place to buy custom tailored prom dress for your big day is at JennyJoseph.com
▪	Select hotel by map and save 75% in thousands hotels in Canton, Beijing and 500 cities in China.