Pfizer posts 30% rise in quarterly profit
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FILE PHOTO: The logo of U.S. pharmaceutical corporation Pfizer Inc. is seen at a branch in Zurich, Switzerland October 2, 2018. REUTERS/Arnd Wiegmann/File Photo
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(Reuters) - Pfizer Inc (NYSE: PFE) 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 (NASDAQ: MYL).
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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