May 03, 2011 : Kevin Grogan
Pfizer has reported flat sales for the first quarter while net income rose 10% to $2.22 billion, beating analyst estimates.
Lyrica, Prevnar on the rise
Sales of Lyrica (pregabalin), for epilepsy, fibromyalgia and neuropathic pain, increased 14% to $826 million,
As for products Pfizer got hold of through its acquisition of Wyeth, the antidepressant Effexor (venlafaxine) contributed just $204 million, down 72% as a result of generic competition,
Chief executive Ian Read said he was pleased "not only with our solid financial performance during the first quarter despite the loss of exclusivity of several products in the USA and other geographies, but also with our ability to enhance shareholder value through various initiatives", notably a share repurchase programme. He added that Pfizer's emerging markets unit delivered 8% operational growth, "driven by many of our priority countries, notably China, and continued to benefit from our ongoing targeted investment".
http://www.pharmatimes.com/Article/11-05-03/Healthy_quarter_for_Pfizer_no_news_of_further_sell-offs.aspx
Pfizer has reported flat sales for the first quarter while net income rose 10% to $2.22 billion, beating analyst estimates.
Lyrica, Prevnar on the rise
Sales of Lyrica (pregabalin), for epilepsy, fibromyalgia and neuropathic pain, increased 14% to $826 million,
As for products Pfizer got hold of through its acquisition of Wyeth, the antidepressant Effexor (venlafaxine) contributed just $204 million, down 72% as a result of generic competition,
Chief executive Ian Read said he was pleased "not only with our solid financial performance during the first quarter despite the loss of exclusivity of several products in the USA and other geographies, but also with our ability to enhance shareholder value through various initiatives", notably a share repurchase programme. He added that Pfizer's emerging markets unit delivered 8% operational growth, "driven by many of our priority countries, notably China, and continued to benefit from our ongoing targeted investment".
http://www.pharmatimes.com/Article/11-05-03/Healthy_quarter_for_Pfizer_no_news_of_further_sell-offs.aspx
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