Pfizer Weathers Setbacks and Posts Modest Revenue Growth for Q4 2007

(NewsVisual, powered by IntellectSpace) -- Despite having to endure certain setbacks, Pfizer Inc (NYSE: PFE) experienced a four percent increase in revenues to $13.1 billion from the $12.6 billion of the same period last year, the company said in a statement.

The increase occurred despite the fact that the company lost revenues of $667 million from its drug Norvasc as a result of its losing its exclusive sales privileges.

The company’s report on its net income was a bit more complicated to explain:

Although its fourth-quarter 2007 net income declined by 70 percent to $2.9 billion from the same period last year when it was $9.4 billion, the reason for the dramatic decline was not attributable to a fall off in sales: the 2006 figures were higher because they reflect Pfizer’s one-time after-tax gain of $7.9 billion from the sale of its Consumer Healthcare Business to Johnson & Johnson.

To add further clarity, Pfizer reported its adjust fourth-quarter 2007 income to have increased 17 percent to $3.6 billion from the fourth-quarter 2006 income of $3.0 billion.

For the full-year 2007, the company’s revenues increased one percent to $48.6 billion compared with $48.4 billion from 2006, even though it lost revenues of $3.4 billion from Norvasc and Zoloft.

The company attributed the one percent increase in revenue to the positive impact of the foreign exchange rate, which increased revenues by approximately $1.5 billion or three percent.

Pfizer appeared anxious to assure investors that it has a plan for future growth:

“We are executing against a broad plan to position Pfizer to deliver long-term value,” said CEO/Chairman Jeff Kindler in the company’s statement.

He then went on to add the specific details of the company’s plan:

“Our new products (Lyrica, Chantix, and Sutent ) are performing well. We are continuing to strengthen our senior leadership team and enhance accountability. We are shifting investments into high-priority therapeutic areas, revamping our R&D operations and acquiring new compounds and technologies that we believe are especially promising.”

The markets responded favorably to Pfizer’s statement.  Traders sent its share price from the previous close of $22.23 up to $22.36 in early noon exchanges (12:29pm ET).

NewsVisual decided to create an IntellectSpace Knowledge Map in order to illustrate the business connections of Pfizer’s Board of Directors as a method for assessing their knowledge of business and for determining the likelihood that its Management Team would benefit from the former’s advice.

The Knowledge Map shows that Director William H Gray III has the most connections to other companies.  Director Gray, who is a former United States Congressman, also sits on the boards of Dell Inc, JP Morgan Chase & Co, Prudential Financial Inc, and Visteon Corp.

The following Directors are also notable for their involvement with other companies:

Director M Anthony Burns also sits on the board of JC Penny Co; Director Constance Horner also serves on the board of Prudential Financial Inc; and Director Suzanne Nora Johnson is also a Director for Intuit Inc and Visa Inc.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).

Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=49106ade-6505-42ac-a4b3-8bfd3fb341cb