The 'new' Pfizer sees 4th qtr s2009 sales and profit rocket, but 2010 guidance disappoints

Pfizer, already the world's biggest pharmaceutical company just got bigger with its $68 billion acquisition of fellow USA-based Wyeth which completed last fall, has reported a strong set of results for the fourth quarter of 2009, with revenues leaping 34% to $16,54 billion, some $500 million ahead of consensus expectations. However, about $3.2 billion in acquisition charges and higher costs across the board weighed down on the group's profits.

For full-year 2009, Pfizer reported total turnover of $50 billion, up 4% on 2008, and net income of $8.64 billion, a rise of 7%.

The contribution to fourth-quarter sales from Wyeth products was $3.3 billion, excluding which the year-on-year increase would have been about 7%, with Pfizer noting a 4% contribution for favorable exchange rates.