Pfizer tops forecasts, sees "strong platform for growth"
AFP, April, 2004
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NEW YORK (AFP) — US pharmaceutical giant Pfizer, maker of blockbuster drugs like Viagra and Lipitor, reported first-quarter earnings topping most forecasts and said it sees a "strong platform for growth" in 2004.
The world's largest pharmaceutical firm said its net profit amounted to 2.3 billion dollars in the quarter, down from 4.6 billion dollars in the same period a year ago.
The net profit in the most recent quarter was impacted by one-time costs of over 1.5 billion dollars related to the acquisitions of Pharmacia, Esperion, and two animal-health businesses, merger-related costs.
The profit excluding special items amounted to 52 cents a share, compared with an average forecast on Wall Street of 51 cents a shares.
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Revenues were up 47 percent from a year ago to 12.5 billion dollars for the three-months to March 31, boosted in part by the weakness of ...
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