There is no point in asking if a Big Pharma company will go through its trial by fire (or trial by patent cliff, if you prefer), it's just a question of when. Although Pfizer (PFE) is not exactly in the clear with all of its patent cliffs, most of the damage has been done and Pfizer has emerged as a leaner, more profitable, and ultimately more interesting major drug company.
Decent Results For Q4
Some of the company's progress shows through in fourth quarter results. Revenue was down 5%, but still fared better than most analysts expected. Certainly the drug business needs more help; revenue was down 6% as reported, with U.S. sales down 15% due in large part to declining sales of Lipitor (now off patent). Ancillary businesses were fairly strong though, as animal health grew 13%, consumer products grew 8%, and nutrition grew 22%.
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Pfizer Looking More And More Like A Dependable Company
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