Pfizer on track to deliver 2009 results

Pfizer remains on track to deliver its full-year 2009 fiscal goals, it has claimed.

During the first quarter of the year, the company’s revenues decreased eight per cent compared to the same period in 2008, totalling $10.9 billion (7.4 billion pounds).

Chairman and chief executive officer of the firm Jeff Kindler stated Pfizer remained focused on meeting its targets, despite facing a challenging economy and a competitive environment.

He noted the business continues to make substantial progress in planning for the integration with Wyeth and laying down the groundwork to increase shareholder value over the long-term.

Chief financial officer at Pfizer Frank D’Amelio added the company had reached a number of milestones during the first three months of the year with the Wyeth acquisition.

“We remain committed to a rapid and successful integration, while at the same time delivering on our 2009 financial goals, which remains a top priority,” he commented.

Earlier this month, Pfizer disclosed information relating to the planned leadership and organisational structure that will become effective when the Wyeth merger is complete.