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Shares of Pfizer were up 1.5% at $ 17.16 in pre-market trading.New York-based Pfizer / quotes/comstock/13 *! PFE / Quotes / NLS / PFE (PFE 17:15, 0.24, 1.42%) said it earned 2.03 billion U.S. dollars, or 25 cents a share, compared with $ 2,730,000,000, or 40 cents a share, for same period in 2009. As a result of the merger, Wyeth, Pfizer's number of outstanding shares soared to 8.1 billion in the 2010 quarter, versus 6.8 billion in the last quarter. In October 2009, Pfizer acquired fellow pharmaceutical giant Wyeth for $68 billion.Excluding various items, Pfizer would have reported adjusted earnings per share of 60 cents, compared with 54 cents. The 2010 quarter also contained a $270 million write-off for taxation of its prescription drug coverage plan for retired employees under the newly-enacted healthcare bill. Revenue for the world's largest drug maker soared 54% to $16.75 billion. Wyeth products contributed $5.3 billion to the top-line, or 48%. Foreign currency rates added an additionalPfizer added that the new healthcare bill negatively impacted revenue by about $56 million. The bill calls for major drug makers to offer expanded rebates on drugs purchased under such government programs as Medicaid and MedicarPfizer's results still came in ahead of Wall Street estimates. A poll of analysts by FactSet estimated Pfizer would report earnings of 53 cents a share, on sales of $16.63 billion.
Shares of Pfizer were up 1.5% at $ 17.16 in pre-market trading.New York-based Pfizer / quotes/comstock/13 *! PFE / Quotes / NLS / PFE (PFE 17:15, 0.24, 1.42%) said it earned 2.03 billion U.S. dollars, or 25 cents a share, compared with $ 2,730,000,000, or 40 cents a share, for same period in 2009. As a result of the merger, Wyeth, Pfizer's number of outstanding shares soared to 8.1 billion in the 2010 quarter, versus 6.8 billion in the last quarter. In October 2009, Pfizer acquired fellow pharmaceutical giant Wyeth for $68 billion.Excluding various items, Pfizer would have reported adjusted earnings per share of 60 cents, compared with 54 cents. The 2010 quarter also contained a $270 million write-off for taxation of its prescription drug coverage plan for retired employees under the newly-enacted healthcare bill. Revenue for the world's largest drug maker soared 54% to $16.75 billion. Wyeth products contributed $5.3 billion to the top-line, or 48%. Foreign currency rates added an additionalPfizer added that the new healthcare bill negatively impacted revenue by about $56 million. The bill calls for major drug makers to offer expanded rebates on drugs purchased under such government programs as Medicaid and MedicarPfizer's results still came in ahead of Wall Street estimates. A poll of analysts by FactSet estimated Pfizer would report earnings of 53 cents a share, on sales of $16.63 billion.
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