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Home Industry News Pfizer reports earnings for fourth quarter of 2009

Pfizer reports earnings for fourth quarter of 2009

3rd February 2010

Pfizer, the parent firm of Pfizer Animal Health, has revealed its financial results for the final quarter of last year.

The firm achieved fourth-quarter revenues of $16.5 billion (10.29 billion pounds), while this figure stood at $50 billion for the whole of 2009.

Revenues for fourth quarter rose by $3.3 billion – the equivalent of 27 per cent – due to the organisation’s acquisition of Wyeth and its product pipeline.

The takeover was completed in October 2009, therefore, the firm’s financial reports were impacted by the move.

Jeff Kindler, chairman and chief executive officer of Pfizer, commented: “During the fourth quarter, we closed the Wyeth acquisition and immediately began the integration of our operations, advancing the transformation of the company.”

He added that the firm is pleased with the “rapid pace of the integration”.

Last month, Pfizer announced that it had instigated changes to its research and development pipeline to incorporate the transitions that took place last year.

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