Pfizer: Lipitor and Celebrex sales increase, Viagra down

10/20/04 - newratings.com

NEW YORK, October 20 (newratings.com) – Global pharmaceutical giant, Pfizer Inc (PFE), reported 49% earnings growth for 3Q04, boosted by the robust sales growth of its arthritis painkiller, Celebrex, and cholesterol drug, Lipitor.

Pfizer said in a statement released today that its net income increased to $3.34 billion or $0.44 per share in 3Q04, from $2.24 billion or $0.29 per share posted in the year-ago quarter. Pfizer's 3Q03 profits had been adversely impacted by acquisition-related costs. The company reported its 3Q04 earnings, excluding one-time charges, at $0.55 per share, compared to the $0.54 per share forecasted by the Wall Street analysts. Pfizer reported its 3Q04 sales at $12.8 billion, representing 4% year-over-year growth, the lowest sales growth rate posted in the past couple of years. Pfizer reported a 15% year-over-year decline in its Viagra sales.