Express Pharma

Pfizer’s revenue increases by 16 per cent for third quarter

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Sees 14 per cent increase in revenue for the nine months ended December 31, 2014

Pfizer revenues (on a like to like basis and net of transition support sales) increased by 16 per cent for the quarter and 14 per cent for the nine months ended December 31, 2014.

A like to like comparison, for better understanding, reflects the revenue of Rs 465 crore for the third quarter (Q3 2013-14 Rs 407 crore) and Rs 1371 crore for the nine months (nine months 2013-14 Rs 1245 crore).

The previous year periods include the transition support for sales of certain animal health products. Excluding these transactions, the revenues for the quarter and nine months reflects a growth of 16 per cent and 14 per cent respectively.

Profit from operation (before other income and tax) for the quarter is Rs 28 crore and for the nine months is Rs 161 crore. Profits are lower due to higher expenses and depreciation / amortization arising on amalgamation.

Profit from operations on a like to like basis (excluding merger related expenses and depreciation / amortisation arising on amalgamation) would reflect a growth of 16 per cent for the quarter and 20 per cent for YTD nine months.

Profit after tax for the quarter is Rs 18 crore and for the nine months is Rs 58 crore.

The Scheme of Amalgamation of Wyeth with Pfizer has become effective on December 1, 2014 (Effective Date). The appointed date is April 1, 2013. In terms of the said scheme, Pfizer issued 15,906,292 equity shares of Rs 10 each to the shareholders of Wyeth.

EP News BureauMumbai

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