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International

International

May 3, 2016

Pfizer quarterly revenue soars 19.7%

Reuters

Pfizer

Pfizer , The Canadian Press

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U.S. drugmaker Pfizer Inc (PFE.N) reported a 19.7 percent rise in quarterly revenue, boosted by sales of its new treatments for cancer and its Hospira acquisition.

The company's revenue rose to $13.01 billion in the first quarter, from $10.86 billion a year earlier.

Net income rose to $3.02 billion, or 49 cents per share, from $2.38 billion, or 38 cents per share.

Pfizer and Allergan Inc (AGN.N) walked away from their $160 billion merger in April, citing new U.S. Treasury rules aimed at blocking the deal's tax benefits.