Wyeth acquisition, international Lipitor sales help Pfizer's Q2

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Pfizer has reported financial results for second quarter of 2010, which reflect legacy Wyeth products and operations that are not reflected in the first two quarters of 2009, since the Wyeth acquisition was completed in late 2009.

For the 2010 second quarter, the New York City-based company posted a net income of $2.5 billion, an increase of 9 percent compared with $2.3 billion in the prior-year quarter.

Second quarter 2010 revenues were $17.3 billion, an increase of 58 percent compared with $11 billion in the year-ago quarter. Pfizer said the revenues were favorably impacted by $5.4 billion (50 percent) due to the addition of the legacy Wyeth products; by $315 million (3 percent) due to legacy Pfizer products; and by $584 million (5 percent) due to foreign exchange. 

For second-quarter of 2010, U.S. revenues were $7.4 billion, an increase of 63 percent compared with the year-ago quarter. International revenues were $9.9 billion, an increase of 54 percent compared with the prior-year quarter, which reflected 45 percent operational growth and a 9 percent favorable impact of foreign exchange, according to the company.

Sales of atorvastatin (Lipitor), Pfizer’s blockbuster cholesterol-lowering drug, rose 5 percent to $2.8 billion in the second quarter of 2010 from $2.69 billion in the second quarter of 2009. The statin held flat in the U.S. quarter over quarter returns at $1.31 billion. However, the drug’s international sales rose 9 percent to $1.5 billion.