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Pfizer's Q2 Income More Than Doubles

Posted on: Thursday, 24 July 2008, 12:00 CDT

Pfizer has posted a net income of $2.8 billion in the second quarter of 2008, an increase of 119% compared with $1.3 billion in the corresponding period of 2007.

The company reported diluted EPS of $0.41 in the second quarter of 2008, an increase of 128% compared with $0.18 in the prior-year quarter.

Total revenues for the quarter were $12.1 billion, an increase of 9% compared with $11.1 billion for the same quarter in 2007.

Pharmaceutical revenues for the quarter were $11.1 billion, an increase of 9% compared with the prior-year quarter. Animal health revenues for the period were $715 million, an increase of 13% compared with $632 million in the year-ago quarter.

For the first-half of 2008, Pfizer recorded revenues of $24 billion, an increase of 2% compared with $23.6 billion reported in the corresponding period of 2007.

For the first-half, the company reported a net income of $5.6 billion, an increase of 19% compared with $4.7 billion in the prior-year period.

Jeff Kindler, chairman and CEO, said: "We are pleased with the financial results we delivered this quarter, which were driven in part by the solid performance in our pharmaceutical and animal health businesses. Many of our key products continued to perform well both in the US and international markets, including Lyrica, Celebrex, Viagra and Geodon, as well as Lipitor in the face of a highly competitive statin market."

Source: Datamonitor

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