Pfizer Inc, USA, a worldwide leader in the pharmaceutical segment, achieved sound performance during the fourth quarter (Q4) ended December 31, 2004 and also for the year ended on the same day.

Its revenues for the fourth quarter of 2004 improved by 7 per cent to $14.92 billion compared to the $ 13.98 billion in the similar period of last year. The net profit (adjusted) increased by 16 per cent to $ 4.39 billion during the fourth quarter. However, the net profit before adjustment has taken a quantum jump of 369 per cent and touched to $2.83 billion from $ 0.602 billion. Its R&D expenses touched to $ 2.33 billion during the fourth quarter of 2004.

Hank Mckinnell, chairman and CEO, said "Pfizer delivered another strong performance during the fourth quarter, despite a challenging business environment. These results reflect our unequaled operational capabilities and our industry-leading product portfolio and pipeline. Among many solid product performances, Lipitor continued to achieve strong double-digit revenue growth and became the world's first ten billion-dollar pharmaceutical product."

The company recorded sound performance due to strong push back from Lipitor and a number of other product lines. Further, the weakening of the US dollar relative to a number of foreign currencies, offset in part by recent generic competition to Diflucan, Neurontin and Accupril and other competitive challenges aided for the growth. The Human health business generated revenues of $ 13.10 billion, up 6 per cent in the Q4. Its consumer healthcare business sales improved by 13 per cent to $ 992 million and that of Animal Health increased by 11 per cent to $566 million.

The company's revenues of the year ended December 2004 increased by 17 per cent to $52.52 billion from $ 44.74 billion in the previous year. Its adjusted net profit increased by 31 per cent to 16.14 billion. The net profit before adjustments worked out to $ 11.36 billion as against $ 3.92 billion for the previous year, registering a rise of 191 per cent. The company has adjusted $ 3.39 billion in respect of acquisitions, $ 786 million or merger related costs and $ 629 million for other charges including impairment charge. The company incurred R&D expenses of $ 7.78 billion during 2004, which worked out to 14.6 per cent of total revenue.