Arab Today, arab today pfizer profit skids on lipitor loss
Last Updated : GMT 20:37:46
Arab Today, arab today
Arab Today, arab today

Pfizer profit skids on Lipitor loss

Arab Today, arab today

Arab Today, arab today Pfizer profit skids on Lipitor loss

Washington - AFP

US pharmaceuticals giant Pfizer on Tuesday reported profit and sales fell in the fourth quarter, hit hard by the loss of exclusivity on its blockbuster anti-cholesterol drug Lipitor. Pfizer Inc., the world\'s leading drug maker, posted fourth-quarter net income of $1.4 billion, down 50 percent from the year-ago period. Excluding exceptional items, adjusted earnings were 50 cents per share, topping the average analyst forecast of 47 cents. Fourth-quarter revenue fell to $16.7 billion, down 4.0 percent from the year-ago period. For the full year, Pfizer said net income rose 21 percent from the prior year to $10.0 billion on revenue up 1.0 percent to $67.4 billion. Ian Read, Pfizer\'s chairman and chief executive, said that 2011 had been a year of setting a new direction for the company. \"I am pleased with our 2011 financial performance, which was achieved in the face of a challenging global market and product losses of exclusivity of approximately $5 billion.\" Pfizer\'s US patent on the best-selling drug of all-time, the cholesterol-lowering medication Lipitor, expired on November 30, opening the path to generic competitors for America\'s most popular medication. Read said the company boosted its research and development efforts, and had a \"next wave of compounds that have shown promise\" in the pipeline. Lipitor came on the market in 1997, and has raked in some $100 billion for Pfizer even in a crowded market that includes various other cholesterol-lowering statins, many of which have already gone generic. For fourth-quarter 2011, US revenues were $6.3 billion, a decline of 12 percent from a year earlier. The share of US sales in total revenues shrank to 38 percent from 41 percent, while international revenues rose 3.0 percent to $10.4 billion. In 2012, Read said, Pfizer plans to repurchase about $5 billion in common stock under a recently authorized $10 billion buyback program and to pay more than $6 billion in dividends. Pfizer lowered its 2012 earnings and revenue forecasts. The company estimated earnings of $2.20-2.30 per share, from a prior range of $2.25-2.35. Revenue was seen at $60.5-62.5 billion, instead of the $62.2-64.7 previously forecast. Pfizer shares were up 1.3 percent at $21.85 in pre-market trade.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pfizer profit skids on lipitor loss Arab Today, arab today pfizer profit skids on lipitor loss

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday