Pfizer Inc.: The New York-based health-care, consumer...
From Times Staff and Wire Reports
Pfizer Inc.: The New York-based health-care, consumer products and chemicals company’s fourth-quarter profit surged 78% to $754.8 million. The jump was partly because of a $70-million tax break related to a loss on the sale of a subsidiary in 1989. Quarterly revenue jumped 19% to $1.79 billion. For the year, income rose 18% to $801.2 million on revenue that climbed 13% to $6.4 billion. Pfizer said one reason for its improved results was strong early sales on a number of new pharmaceutical products.
