Page last updated at 16:25 GMT, Wednesday, 3 February 2010

Pfizer's profit rise disappoints

Pfizer sign
Pfizer is the world's largest drugs-maker

Shares in Pfizer have fallen 2.3% after its latest quarterly profits and earnings target for 2010 both failed to meet market expectations.

The world's largest drugmaker made a net profit of $767m (£481m) in the last three months of 2009, almost triple the $266m it made a year before.

The profits were lifted by Pfizer's $67bn purchase of fellow US pharmaceutical group Wyeth in October.

Revenues at the group were up 34% to $16.5bn.

Excluding one-off items, Pfizer's profits equate to 49 cents per share. Analysts had expected them to total 50 cents per share.

Pfizer said it expects profits of between $2.10 and $2.20 per share for 2010, below market expectations of $2.27 per share.

Its profits for the October to December quarter were much lower in 2008 when it had to pay $2.3bn to settle government allegations that it improperly marketed some of its drugs.

Pfizer is best known for being the producer of Viagra.



Print Sponsor


SEE ALSO
Cost-cutting drives Pfizer profit
20 Oct 09 |  Business
Pfizer agrees record fraud fine
02 Sep 09 |  Business
Pfizer acquires Wyeth for $68bn
26 Jan 09 |  Business
Pfizer considers cutting 240 jobs
14 Jan 09 |  England
Drug firms 'block cheap medicine'
28 Nov 08 |  Business
Over-the-counter Viagra bid ends
20 Nov 08 |  Health
Generic competition hits Pfizer
17 Apr 08 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2020 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific