02 Aug 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Pfizer reported financial results for second quarter (Q2) 2012. Second quarter 2012 revenues were $15.1 billion, which is a decrease of nine percent when compared with $16.5 billion recorded in the same quarter during the previous year. The results reflect an operational decline of $977 million, six percent, and the unfavorable impact of foreign exchange of $451 million, or three percent.
Pfizer reported Q2 2012 adjusted diluted EPS of $0.62; reaffirmed its 2012 financial guidance; repurchased $1.3 billion of common stock in the second-quarter 2012; and continued to expect to repurchase approximately $5 billion of common stock. The company anticipates filing a registration statement with the US Securities and Exchange Commission by mid-August for a potential initial public offering of up to a 20 percent ownership stake in the animal health business, Zoetis.
During the second quarter of 2012, US revenues were $5.7 billion, which is a decrease of 15 as compared to the same period in the previous year. This decrease was primarily the result of the US loss of exclusivity of Lipitor on November 30, 2011. International revenues witnessed a five percent decrease to $9.3 billion when compared with the prior-year quarter, primarily due to the unfavorable impact of foreign exchange.
US revenues represented 38 percent of total revenues during the second quarter of 2012 when compared with 41 percent in the same period during the last year. International revenues represented 62 percent of total revenues in the second quarter of 2012 when compared with 59 percent in the same quarter a year-ago.