Pfizer Q4 net profit jumps four-fold

Jan 30 2013, 10:12 IST
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SummaryPfizer Inc says its fourth-quarter profit more than quadrupled, despite competition from generic drugs hurting sales, because of a $4.8 billion gain from selling its nutrition business

Pfizer Inc says its fourth-quarter profit more than quadrupled, despite competition from generic drugs hurting sales, because of a $4.8 billion gain from selling its nutrition business.

The world’s biggest drugmaker says its net income was $6.32 billion, or 85 cents per share, up from $1.44 billion, or 19 cents per share, a year earlier. Excluding one-time items, the Viagra maker would have had a profit of $3.51 billion, or 47 cents per share.

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