SECURITY: PFE (Common)
EXCHANGE: New York Stock Exchange
DOW
JONES
Pfizer Inc discovers, develops,
manufactures, and markets leading prescription medicines for humans and
animals and many of the world's best-known consumer brands. Our innovative,
value-added products improve the quality of life of people around the world
and help them enjoy longer, healthier, and more productive lives. The company
has three business segments: health care, animal health and consumer health
care. Our products are available in more than 150 countries.
Pfizer
Delivers Strong Second-Quarter 2006 Results, Driven By Performance Of Major
In-Line And New Products
($
billions, except per-share amounts)
Second
Quarter 2006 2005
Revenues
$11.741 $11.452
Reported
Net Income $2.415 $3.463
Reported
Diluted EPS $0.33 $0.47
Adjusted
Income1 $3.663 $3.320
Adjusted
Diluted EPS1 [see footnotes at end of text] $0.50 $0.45
Cholesterol-Lowering
Medicine Lipitor Posts 9-Percent Revenue Increase, Antiarthritic Celebrex
17 Percent, Anti-Psychotic Geodon 14 Percent, New Epilepsy/ Neuropathic
Pain Drug Lyrica Exceeds Expectations
Second-Quarter
2006 Adjusted Diluted EPS1 Increases 11 Percent to $.50; Reported Diluted
EPS Declines 30 Percent to $.33 Due to 2005 Tax Anomali
Pfizer
Raises 2006 Adjusted Diluted EPS1 Estimate, Reported Diluted EPS Now Estimated
to Be About $1.60
Chairman
and CEO McKinnell Cites Pfizer Consumer Healthcare Divestiture as Part
of Plan to Further Enhance Shareholder Value While Stepping Up Business-Development
Activities
NEW
YORK, July 20, 2006 -- Pfizer posted strong second-quarter 2006 financial
results, driven by higher sales of both in-line and new products.
"We
achieved strong operating performance in the face of increased generic
competition and revenue losses due to patent expirations," said Hank McKinnell,
chairman and chief executive officer. "Our latest results show that we
are consistently and successfully meeting the challenges we face, in particular
offsetting loss of exclusivity for several of our products with solid growth
from in-line and new products.
Pfizer
First-Quarter 2006 Financial Results Reflect Operating and Financial Strength
($
billions, except per-share amounts) First Quarter 2006
2005
Revenue
$12.660 $13.091
Reported
Net Income $4.111 $0.301
Reported
Diluted EPS $0.56 $0.04
Adjusted
Income1 $4.461 $4.000
Adjusted
Diluted EPS1 [see footnotes at end of text] $0.61 $0.54
Rapid
Uptake of Lyrica Continues; Geodon Among Fastest-Growing Antipsychotic
Drugs
Foreign
Exchange, Timing of New-Product Launches and Expenses, Loss of Exclusivity,
Effective Tax Rate, Other Factors Impact Quarterly 2006 EPS; Company Reaffirms
2006-08 Financial Guidance for Adjusted Diluted EPS1, Raises Guidance for
2006 Reported Diluted EPS
Pfizer
Continues to Build Shareholder Value with $1 Billion Share Purchase in
First Quarter, Plans for $1 Billion Purchase in Second Quarter, Target
of Up to $4 Billion Purchase for Full-Year 2006; Additional Share-Purchase
Opportunities Possible
Company
Remains Committed to Aggressive Full-Year Sales Targets for Lipitor, Celebrex,
Lyrica, and Geodon
U.S.
Approvals in Quarter Include Sutent, Exubera, and Eraxis (Anidulafungin),
With Action Pending on Varenicline, Zeven (Dalbavancin), and Indiplon;
Industry's Broadest Pipeline Continues to Advance, With U.S. Filings Made
or Expected for Five New Medicines in 2006 Through 2007
Company
to Acquire Rinat Neuroscience Corp. and to License Fesoterodine for Overactive
Bladder
Pfizer
Continues to Explore Strategic Options for Consumer Healthcare Business,
Sees High Degree of Initial Interest
Broad-Based
Productivity Initiative on Track to Achieve At Least $2 Billion in Annual
Savings in 2006, $4 Billion by 2008
NEW
YORK, April 19, 2006 -- Pfizer reported first-quarter 2006 financial results
today.
"We
are reporting solid operating performance for the first quarter of 2006,
with an increasing contribution from our new products, significant cost
savings from our restructuring initiatives, and additional action to build
shareholder value," said Hank McKinnell, chairman and chief executive officer.
"We will continue to manage the loss of exclusivity on some of our major
products with an aggressive strategy that responds to our competitive challenges
and positions Pfizer for renewed growth. We are reconfirming our 2006 full-year
financial guidance for revenues and adjusted diluted EPS1, as well as our
targets for 2007 and 2008.
"We
are committed in our efforts to reach our full-year revenue goal for Lipitor,
although it is an aggressive target given a challenging environment and
a slower-than-hoped-for start to the year. New clinical data, educational
campaigns on Lipitor that highlight its unique benefit profile, and advantageous
formulary positioning are expected to contribute to growth. The same commitment
is true for Celebrex, which remains an important treatment option for millions
of arthritis patients. Geodon is delivering excellent results, Lyrica is
exceeding our high initial expectations, and the contribution of new products
will continue to accelerate as we launch new products throughout the year.
"At
the same time, we continue to buy company shares aggressively. Having purchased
$1 billion of Pfizer stock in the first quarter of 2006, we intend to buy
another $1 billion in the second quarter. We hope to purchase up to $4
billion in total this year. Our expected operating cash flow of more than
$16 billion enables us to build value today while investing in the future.
Already this year we have acquired the sanofi-aventis worldwide rights,
including patent rights and production technology, to manufacture and sell
Exubera; reached an agreement to acquire Rinat Neuroscience Corp.; and
reached an agreement with Schwarz Pharma AG to acquire exclusive worldwide
rights to fesoterodine for overactive bladder." |
