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News
Pfizer edges 2Q estimate
July 17, 2001: 7:43 a.m. ET

Nation's largest drugmaker posts higher revenue, operating profit
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NEW YORK (CNNfn) - Pfizer Inc. edged past Wall Street profit and revenue expectations for the second quarter Tuesday.

The nation's largest pharmaceutical company earned $1.89 billion, or 30 cents a diluted share, from continuing operations excluding special items. That was a penny better than the earnings per share forecast of analysts surveyed by earnings tracker First Call. The company would have earned $1.44 billion, or 23 cents a share, on the same basis a year earlier if the acquisition of Warner-Lambert had been completed at that time.

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Including merger costs and other special items, the company reported net income of $1.83 billion, or 29 cents a diluted share, up from $1.15 billion, or 18 cents a diluted, share a year earlier from the combined companies' operations. Pfizer said savings from its acquisition of Warner-Lambert reached $325 million in the second quarter, and that savings for the year are expected to reach $1.3 billion.

Revenue gained 10 percent to $7.69 billion, a bit above the $7.63 billion forecast. Sales of cholesterol-lowering drug Lipitor, its best-selling drug, rose 14 percent to $1.4 billion, while sales of its high-profile impotency treatment Viagra gained 16 percent to $351 million.

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Shares of Pfizer (PFE: Research, Estimates) lost 56 cents to $37.87 Monday. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.