Pfizer 3rd-Qtr Profit From Ops Rises 15% on Viagra, Trovan
Bloomberg News
October 13, 1998, 4:17 p.m. ET
Pfizer 3rd-Qtr Profit From Ops Rises 15% on Viagra, Trovan
New York, Oct. 13 (Bloomberg) -- Pfizer Inc., maker of the
impotence drug Viagra, said third-quarter profit from operations
rose 15 percent as it sold Viagra and another new drug, the
antibiotic Trovan.
Profits from operations rose to $667 million, or 51 cents a
share, from $579 million, or 45 cents, a year earlier. Sales rose
to $3.33 billion, including $141 million from Viagra, from $2.74
billion.
Introduced in April, Viagra had $411 million in second-
quarter sales as wholesaler stocked up on the drug. Although
prescriptions have since slowed, the drug could top $1 billion in
its first full-year on the market.
Pfizer, based in New York, sold two medical-devices
businesses last month for a combined $2.23 billion to focus on
its more profitable pharmaceuticals business.
--Kerry Dooley in the Princeton newsroom (609) 279-4016 /mfr |
