Pfizer beats forecasts as oncology drugs
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[July 29, 2014]
(Reuters) - Pfizer Inc, which in May
officially abandoned its bid to buy British rival AstraZeneca Plc,
reported higher-than-expected second-quarter earnings, helped by growing
sales of its cancer medicines.
The largest U.S. drugmaker on Tuesday said it had earned $2.91
billion, or 45 cents per share. That compared with $14.1 billion, or
$1.98 per share, a year earlier, when Pfizer received more than $10
billion in proceeds from the spinoff of its animal health business
into a new publicly traded company, Zoetis.
Excluding special items, Pfizer earned 58 cents per share. Analysts
on average expected 57 cents, according to Thomson Reuters I/B/E/S.
(Reporting by Ransdell Pierson; Editing by Lisa Von Ahn)
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