Pfizer's Q2 2010 results are out. And even though CEO Kindler conducted a 35 percent larger transaction than Merck's bust-up of Schering-Plough during 2009 (buying out Wyeth), it managed an expectations-beating net profit here mid-2010. It also posted stronger than expected worldwide sales figures. It is good to be the biggest pharma by sales -- in the world.
Pfizer is up 3 percent in NASDAQ premarket trading -- almost a buck (at this point on Merck's Q2 2010 results day, it was off 3 percent). Here's a summary:
. . . .Pfizer Wallops Profit, Sales Estimates
Pfizer had second-quarter revenue of $17.33 billion, up 58%. Biopharmaceutical revenue was $15 billion, an increase of 49% compared with $10.1 billion in the year-ago quarter. On average, analysts were expecting earnings of 52 cents on revenue of $16.65 billion. Pfizer shares were 3.3% higher to $15.99 in premarket trading Tuesday. Pfizer reaffirmed its full-year earnings guidance range of $2.10 to $2.20 on a revenue of $67 billion to $69 billion. Analysts, on average, have been expecting full-year earnings of $2.16 a share on revenue of $67.3 billion. . . .
Indeed -- Pfizer remains a steal at $16. What will Credit Suisse's Catherine Arnold write, now -- on Pfizer v. Merck? We'll let you know.
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