Global drugs behemoth Pfizer (NYSE: PFE) reported better-than-expected fourth-quarter 2012 financial results yesterday, along with full-year figures, but also disappointed with its projections for 2013. The quarter benefited from the $12 million sales of its Nutrition business to Nestle, as well as a good showing in emerging markets, where sales rose 17% to $2.65 billion.
Pfizer posted fourth quarter earnings of $0.47, down 4% year-on-year, and beat the average expectations of $0.44 of analysts polled by Thomson Reuters. Results were hit by the loss of exclusivity of certain products – most notably the all-time blockbuster cholesterol-lowerer Lipitor (atorvastatin) and the unfavorable impact of currency fluctuation. Revenues fell 7% to $15.1 billion, but still well ahead of the $14.37 billion forecast of analysts. Including one-time items, fourth quarter earnings from continuing operations were $0.85 cents compared to the year-ago earnings of $0.11
Full year 2012 earnings declined 4% to $2.19 per share. Revenues fell 10% to $58.9 billion. Both earnings and revenues exceeded consensus estimate of $2.16 per share and $58.4 billion, respectively.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze