Is Pfizer Still Stuck in its Lipitor Slump?

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Analysts’ predictions set Pfizer (NYSE:PFE) fourth-quarter earnings at 44 cents per share. But the drug maker beat expectations and reported Tuesday that earnings had quadrupled to $6.32 billion, or 85 cents per share, pushed upward by the sale of its of its nutritional products business to Nestle (NSRGY.PK). The results improved dramatically from the fourth quarter last year, when Pfizer generated earnings of only 19 cents per share.

However, excluding restructuring, acquisition-related charges, and other items, adjusted earnings were 47 cents per share, down from 49 cents per share in the year-ago quarter.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Revenue for the three-month period came in at $15.07 billion, a decrease of 6.6 percent from the previous year. Analysts polled by Thomson Reuters had estimated $14.38 billion. Pfizer’s revenue in the United States fell by 9 percent, pulled down by the loss of exclusivity of Lipitor in November 2011 and Geodon in March 2012. But last quarter’s results were worse. The generic version of the drug took a large bite out of Pfizer’s third-quarter profit; sales decreased in the United States by 18 percent…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business