Marketwatch
Pfizer Inc. reported higher fourth-quarter earnings Wednesday, with its top line boosted by recent the drugmaker's merger with Wyeth as profit also benefited from the absence of a major year-ago charge related to its recalled pain reliever Bextra.
Pfizer (PFE 18.59, -0.65, -3.38%) also issued a financial forecast that fell below analysts' estimates for earnings. Shares of Pfizer, part of the Dow Jones Industrial Average, traded down 2% to $18.68 shortly after the opening bell.
For the December quarter, Pfizer posted net income of $767 million, or 10 cents a share, up from $266 million, or 4 cents, earned in the final three months of 2008.
The year-ago quarter saw the New York-based company take $2.3 billion in charges related to resolution of investigations into Bextra and certain other products.
Stock float rose to 7.85 billion shares up by 1.1 billion shares, with Quarterly topline at $16.54 billion agst 12.5 billion standalone a year back. The $65 billion revenue megalith was shaky about 2010 prospects with 2010 earnings adj to $2.10 to $2.20 (topline of 67-69 b) scaling back its own estimates. they shd just making forward staements till they have an idea. 2012 forecasts for a similar topline/ revenue promise cost controls with EPS of $2.25-2.35 from 66-68billion sales
Analysts were somehow expecting $2.27 for 2010 and $2.22 in 2012 Dividend for the 1st quarter at 18c is back from 16c but is down from 32 c before cash was saved up for Wyeth
ROCHE's 'honeymoon' with the flu is over as Tamiflu sales recede from here
Roche Holding on Wednesday reported a 4% rise in second-half profit, buoyed by sales of flu medication Tamiflu and eye-disease drug Lucentis as sales growth slowed toward the end of the year.
Though the company didn't provide second-half results, MarketWatch calculated Roche's (CH:ROG 179.20, -1.40, -0.78%) profit rose to 4.31 billion Swiss francs ($4 billion) from 4.15 billion francs, while sales rose to 25.05 billion francs from 23.61 billion francs.
During the fourth quarter, total sales rose just 3%, as sales of its top selling drug, Avastin, slowed to 9% on a constant-currency basis, with MabThera sales flat and Herceptin sales up just 2%. All three are cancer medications.
The company expects 2010 sales to grow in a mid-single-digit range at constant currencies -- excluding Tamiflu sales -- compared to 10% growth by that measure in 2009, and Roche sees core earnings per share up by a double-digit level compared to 20% growth in 2009.
Tamiflu sales are seen falling to 1.2 billion francs from 3.2 billion francs as worries over pandemic flu recede.
