Pfizer has reported revenues of $12 billion for the third quarter of 2008, consistent with the year-ago quarter, despite the negative impact of the loss of US exclusivity for Zyrtec, which Pfizer ceased selling in late January 2008, and for Camptosar in February 2008.
Reported diluted earnings per share for the third quarter of 2008 were $0.34, an increase of 209%, compared to $0.11 posted in the third quarter of 2007.
For the first nine months of 2008, Pfizer recorded reported revenues of $36 billion, an increase of 1%, compared with $35.5 billion in the same period in 2007.
For the first nine months of 2008, the company reported net income of $7.8 billion, an increase of 45%, compared with $5.4 billion in the prior-year period. Reported diluted earnings per share for the first nine months of 2008 were $1.16, an increase of 49%, compared to $0.78 posted in the same period of 2007.
Jeff Kindler, chairman and CEO of Pfizer, said: “We remain on track to meet our 2008 objectives, despite the turbulent global economy. We continued to deliver steady results this quarter, with many of our most important medicines performing well around the world, including Lyrica, Celebrex, Viagra, Sutent, Zyvox and Geodon, as well as Lipitor in a highly competitive market.
“Looking ahead, we are making progress on our growth strategies, including increasing the number of programs in our Phase III portfolio from 16 to 25 in the last six months. With the formation of the primary care, specialty care and emerging markets units, which join the existing oncology and established products units, we continue to evolve our pharmaceutical operations into smaller, more focused units that can anticipate and respond more quickly to our customers’ and patients’ changing needs.”