|
New York: Global drug major Pfizer reported 26 per cent growth in third quarter profits at USD 2.89 billion, compared to the year-ago, boosted by cost cutting measures.
However, revenues for the September quarter fell 3 per cent to USD 11.62 billion, against the same period a year ago, adversely impacted by foreign exchange costs.
In a statement Pfizer said third quarter profits shot up to USD 2.89 billion in comparison with USD 2.28 billion in the year-ago period.
According to the company, the latest quarter results were favourably impacted by the non-recurrence of the after-tax charge of USD 640 million related to agreements to settle litigation and cost-reduction initiatives.
The third-quarter revenues were hit by foreign exchange costs of about USD 610 million.
Pfizer said revenues from emerging markets decreased by 4 per cent to USD 1.6 billion, compared to the corresponding period a year ago.
"Operational growth of nine per cent, largely attributable to strong growth in high-priority countries, notably China and India, was more than offset by the unfavourable impact of foreign exchange," the statement noted.
Pfizer's Chairman and CEO Jeff Kindler said, "We are pleased with our results this quarter and in our ability to once again deliver solid operational performance in an environment that continues to be challenging".
More from Companies
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
