Pfizer posts single-digit revenue growth for 2000, set to spend $5 billion

Pfizer has announced full-year 2000 revenues of $29.5 billion, anincrease of 8%, while net income rose 25% to $6.50 billion or $1.02 per share (+24%), though the company noted that these figures exclude costs associated with the acquisition of Warner-Lambert. Pharmaceutical revenues for the quarter increased 12% to $22.57 billion, but Pfizer claimed that, excluding foreign exchange and the withdrawal of the antidiabetic drug Rezulin (troglitazone; Marketletter March 27, 2000), the rise would have been 18%.

The company's best-selling product, not surprisingly, was Lipitor (atorvastatin), which rose 26% to $1.43 billion in the fourth quarter of 2000, and 33% to $5.03 billion for the full year. Norvasc (amlodipine), the world's best-selling antihypertensive, climbed 15% to $928 million in the fourth quarter, a period which saw Viagra (sildenafil) sales increase 37% to $380 million. Zithromax (azithromycin) grew 16% to $522 million in the quarter, and Diflucan (fluconazole) was up just 1% to $279 million.

Alliance products contribute $348 million