Pfizer expresses satisfaction with 2011 performance

Pfizer has voiced its satisfaction with its 2011 financial performance after meeting its guidance targets for the year.

The pharmaceutical company generated a reported revenue figure of $67.43 billion (42.77 billion pounds), up by one percent compared to its $67.06 billion total from 2010.

Targets were met despite ongoing economic difficulties and the loss of exclusivity on a number of products, with investments being made in research and development, while achieving progress in the company's new product pipeline.

Drugs that are set to play a key role in Pfizer's future operations include Prevnar/Prevenar 13, tofacitinib, Xalkori, Inlyta and Eliquis, while new strategies are also being pursued for the company's animal health and nutrition businesses.

Ian Read, chairman and chief executive officer of Pfizer, said: "I am excited with the opportunities afforded to Pfizer this year and look forward to continuing the significant progress we've made."

Earlier this week, the company announced that it is in talks with a consortium led by London and Metropolitan over the possible sale of its European research centre in Sandwich, Kent.