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Kiran Yasmin is a professional content and academic writer. She has traveled to 12 countries and loves to write about tourism, fashion and entertainment. She lived in a few Asian countries for a few years during her research. She owns different websites.
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List of Tens
  • Second Quarter Profit Help Pfizer Ahead Of Their Major Restructuring  0 comments
    Jul 31, 2013 8:30 AM | about stocks: PFE

    Pfizer Inc. (NYSE:PFE) saw a rise in their profit of the second quarter. Despite the expectations from analysts, the drug manufacturing firm came of better in their second quarter, ahead of their reconstruction.

    It was a big boost for Pfizer Inc, as it prepares to reconstruct itself by separating its business into three individual sections.

    During the same quarter last year, the income came down from 59 cents per share to 56 cent per share. Pfizer Inc's income came down from $4.45 billion to only $4 billion. This year, stock market analysts were expecting another fall. However, the company was able to see a rise in their revenue from $12.97 billion to $13.01 billion.

    Thomson Reuters's conducted a poll. According to the analysis, the company expected to earn 55 cent per share, but apparently the drug maker firm came out better.

    A rise in profit was quite an abetment for the company, especially as it came after a major announcement from company on Monday, deciding to reconstruct itself into three divisions. According to statement released by the company on Monday, it will break itself into three separate business segments. Here are the details of company's restructure.

    The three divisions of Pfizer Inc. will be responsible for handling separate production lines. The first division will handle production of rare disease, pain, neuroscience and gender-based drugs. The second division will be taking care of cancer related drugs, vaccination, and various other health care products. While on the other hand, third division of the company will launch itself into new emerging markets such as, China and Brazil, with an intention to expand.

    According to a statement released by the chief executive and chairman of the company, "Our new commercial operating model will allow each business to respond to market dynamics in a better way. It will add focus and visibility to our business, optimizing the capabilities to deliver a better value to both our shareholders and patients." List of Tens (www.listoftens.com/) is a good website to read interesting articles.

    The rise in Pfizer Inc.'s in second-quarter profit was good news for the company after the drop in sales of their famous product Lipitor. The cholesterol lowering drug is also not under the exclusive patent of the company anymore.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

    Stocks: PFE
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