Pfizer closed the third quarter of 2012 with profits down 14% to 3,2 billion. Earnings per share down 12%, to 0,43 dollars. Net of extraordinary items, EPS stands at 0,53 cents, in line with expectations. Under the consensus, however, revenues stopped at 13,9 billion dollars, down 16%, mainly due to the loss of the exclusive rights to Liptor, the drug for the treatment of high cholesterol.
The pharmaceutical giant thus reduced its 2012 revenue guidance to $58-59 billion from the previous $60 billion and moved its diluted adjusted EPS from $2,14-2,17 per share to $2,12-2,22 . against the threshold of 60 billion indicated previously. However, Pfizer's board has authorized a new $10 billion buy-back plan following the sale of nutrition-related businesses to Nestlè. The deal should be finalized within a few months.
