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news.Pfizer has recorded revenues of $11.8 billion in the first quarter of 2008, a decrease of 5% compared with $12.5 billion in the corresponding period of 2007.
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In the first-quarter 2008, Norvasc and Zyrtec revenues decreased by $556 million and $344 million, respectively, compared with the same quarter of 2007.
For the first-quarter 2008, Pfizer posted net income of $2.8 billion, a decrease of 18% compared with $3.4 billion in the corresponding period of 2007. Pfizer also reported diluted EPS of $0.41 in the first quarter of 2008, a decrease of 15% compared with $0.48 in the corresponding period of 2007.
Frank D’Amelio, CFO of Pfizer, said: “We’re on track to generate $17 to $18 billion in operating cash flow in 2008, and we expect to continue to generate strong operating cash flow beyond 2008.”