Pfizer Profit Quadruples but Misses Views

[AP]

It's so interesting to me that companies selling products consumers have to chose to buy aren't doing great. But companies which have customers who can't chose to buy their products, and companies who benefit from federal legislation which creates marketplaces keeps prices up for them are doing GGGRRREAAATTT under Bush.

NEW YORK (AP) -- Pfizer Inc., the world's largest drug company, said Wednesday that its net income for the fourth quarter more than quadrupled, driven by strong sales of cholesterol drug Lipitor. Its earnings missed analysts' forecasts after excluding certain items, however.

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The company which also makes the anti-depressant Zoloft and the pain reliever Celebrex said it earned $2.83 billion, or 39 cents a share, for the October-December quarter, up from $602 million, or 8 cents a share, a year earlier.

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Sales of Lipitor soared 23 percent to $3.26 billion while Zoloft revenues jumped 7 percent to $959 million. Celebrex revenues catapulted 24 percent to $1.01 billion and sales of pain reliever widened 57 percent to $417 million.

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During the quarter, sales of erectile dysfunction drug Viagra declined as competition from newer products hurt the brand.

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http://biz.yahoo.com/ap/050119/earns_pfizer_10.html

[cmutt]

1. That's not the problem!

SARCASM:
That's not the problem! The real issue is tort reform! We must place caps on litigation.

[WMliberal]

2. interesting timing. My grandfather worked for Upjohn (now owned by

Pfizer) and is now retired. Two months ago, his health insurance- promised by Upjohn to remain under $100 a month for the rest of his life for his 30+ years with the company- went up 650%.

Funny their little earnings report doesn't mention screwing retirees' benefits as part of the reason for their profit increase.