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Pfizer increased its profit with 10% to about 2.5 billion USD

The strong jump in sales of drugs increased more than expected profits of U.S. pharmaceutical company Pfizer in the second quarter of this year. That contributes to the greatest extent the acquisition of its competitor Wyeth in the last quarter of 2009. Pfizer net profit increased by 9.5 percent annually to 2.48 billion dollars, or 31 cents a share. Net profit per share amounted to 62 cents after excluding one-off effects, which was more than forecast by analysts 52 cents. A year ago, the positive financial result was EUR 2.26 billion, or 34 cents a share. New York-based company has revenues of 17.3 billion dollars for the second quarter, up 58 per cent more than the same period of 2009. The acquisition of rights over medicines and vaccines to Wyeth contributes greatly to the strong increase in sales to Pfizer. The management of the pharmaceutical company plans to cut 19 thousand employees this year and close eight factories producing medicines, as well as six research centers. Confirmed by Pfizer and forecasts of financial results in 2010, expecting earnings per share is the range of 2.10 to USD 2.20.
Shares of pharmaceutical company which participates in the Dow Jones IA index of 2004, fell 15 percent since the beginning of this year. In times of today's electronic trading on the New York Stock Exchange, they rose 2.2 percent to 15.48 dollars per share and capitalization of 124.9 billion dollars.