Pfizer posts 30% rise in quarterly profit
FILE PHOTO: The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S., August 1, 2016. REUTERS/Andrew Kelly
(Reuters) – Pfizer Inc (PFE.N) on Monday reported a 30% rise in quarterly profit, helped by demand for its branded treatments such as Ibrance, Eliquis and Xeljanz.
Pfizer, which was scheduled to report its second-quarter earnings on Tuesday, also said it would combine Upjohn, its off-patent drugs business, with Mylan NV (MYL.O).
Pfizer said net income rose to $5.05 billion, or 89 cents per share, in the second quarter, from $3.87 billion, or 65 cents per share, a year earlier.
Revenue fell 1.5% to $13.26 billion.
Reporting by Tamara Mathias in Bengaluru; Editing by Maju Samuel
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