| |||||||||||||||||||||||
| |||||||||||||||||||||||
 Pfizer Inc. (NYSE:PFE) has certainly had an eventful quarter. The drugmaker spent much of the last three months lobbying for regulatory approval in various countries to acquire Wyeth for $68 billion, creating a pharmaceutical juggernaut that will be in the throes of restructuring for some time to come. The companies officially merged Friday.Analysts polled by Thomson Reuters expect, on average, earnings per share of 48 cents and revenue of $11.42 billion. In the year-earlier period, earnings per share were 34 cents, and revenue was $11.97 billion. Last quarter, the company posted $11 billion in revenue, a 9% decline from a year earlier, and earnings per share of 34 cents. The improved expectations indicate a more positive outlook, despite large expenditures. Dragging down profits in the third quarter was a record-breaking $2.3 billion settlement with the Justice Department over charges that Pfizer illegally marketed several drugs, according to the AP. The company also agreed to a $75 million payment to Nigeria to resolve a decade-long legal dispute over allegations that children there were harmed in a Pfizer study of an experimental antibiotic during a meningitis outbreak. To gain approval from the European Commission, Wyeth in September agreed to sell to German pharmaceutical group Boehringer Ingelheim GmbH most of its Fort Dodge animal health portfolio, which had sales of $250 million last year, for an undisclosed price. The German manufacturer also said it would buy some of Pfizer's animal health assets, including pet vaccines in Australia and cattle vaccines in Europe and South Africa. Pfizer will report on Tuesday at 10 a.m. ET. Click here for more information about the call or instructions on how to tune into the audiocast. Pfizer is also a Most Admired Corporate Dealmakers award candidate in the pharma, biotech and life sciences sector. Check out a list of the competitors and vote for the best dealmakers at www.TheDeal.com/CDsurvey. - Sara Behunek Track Pfizer's dealmaking activity at The Deal's Big Pharma Dealwatch Subscribers to The Deal Pipeline can read more about the Pfizer-Wyeth deal here.
 Deal Video
    Community
 Elsewhere on The Deal.comDealwatchThe Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| |||||||||||||||||||||||
|
|
|
|
|
©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.
Pfizer is apparently seeking new "ventures", especially that they will soon lose patent protection for some of their top-selling brands, like Lipitor and Viagra.
Let's see what's next for this giant player in this giant industry.