Pfizer has reported 11% growth for full-year 2016 revenues, reaching $52.8 billion, including the business from Hospira and the legacy of Medivation. Net income for full year was $7,215 million which is up 4% from last years total net income of $6,960.
The New York-based drugmaker posted the fourth quarter revenues with a 1% decline compared to the same period last year, citing four fewer U.S. selling days and three fewer international selling days compared to the previous year’s fourth quarter. The revenues in the quarter totaled $13.6 billion, while the net income was $775 million, compared to net loss of $172 million in the same period last year.
Ian Read, the company’s chief executive officer (CEO) and Chairman said: “I believe we are positioned for continued strong performance in 2017 and beyond, which will enhance our ability to deliver new therapies to patients and create value for our shareholders.”
Pfizer’s chief financial officer, Frank D’Amelio noted the acquisitions of Anacor and Medivation in 2016, which added revenue growth drivers to the company’s Innovative Health business. “During 2016 we returned $12.3 billion directly to shareholders through dividends and share repurchases.
“Our 2017 financial guidance at the midpoint of our ranges implies revenues slightly above 2016 and a 6% increase to adjusted diluted EPS compared to 2016 results,” said D’Amelio.
In December 2016, Pfizer’s board of directors declared a 32-cent first-quarter 2017 dividend on the
company’s common stock, representing an increase of approximately 7% compared to the company’s firstquarter 2016 dividend. The dividend is payable on March 1, 2017 to shareholders of record at the close of business on February 3, 2017.