Pfizer reports strong operational growth in 2015

Pfizer has announced its financial results for 2015, during which it recorded an annual revenue total of $48.85 billion (33.75 billion pounds).

This represents a year-on-year operational increase of six percent, or a two percent fall in nominal terms. For the fourth quarter of the year, the firm's revenues were up by seven percent nominally to $14.05 billion – a 14 percent operational increase.

The completion of Pfizer's acquisition of Hospira in September 3rd played a significant role in uplifting sales during the final quarter, while the firm's innovative products segment growth helped to offset a drop in established product sales.

In 2016, the company is expecting to generated reported revenues in the range of $49 billion to $51 billion.

Ian Read, chairman and chief executive officer at Pfizer, said: "The just-completed year was very productive in terms of business momentum, pipeline advancement and business development activity."

The firm has agreed a deal to merge with Allergan in a record-breaking $160 billion transaction. This process is expected to be completed later this year.