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Pfizer announce 3rd quarter financial results

Pfizer announce 3rd quarter financial results

Pfizer has announced third quarter net profits of $866m (€618m), representing a 70pc drop from the same time last year.

Pfizer has announced that third-quarter 2010 revenues amounted to $16.2bn - an increase of 39pc compared with $11.6bn in the year-ago quarter.  

Pfizer posted reported net income of $866m (€618m), a decrease of 70pc compared with $2.9bn in the prior-year quarter.

The company’s revenues for third-quarter 2010 were favourably impacted, compared with the same time last year, by $5.2bn, or 44pc.

The costs of adding legacy Wyeth products was attributed to the drop from last year’s profits and negatively impacted the company to the tune of $458m, or 4pc.  

US revenues remained high at $7.1bn - an increase of 48pc compared with a year ago while international revenues performed better - $9.1bn, or an increase of 33pc compared to this time last year.

For the full report, click here.

Shane Hulgraine