Pfizer reports 2015 financial results, Allergan merger update

Pfizer announced financial results for the fourth quarter and full-year 2015 in a recent press release.

The company also provided commentary on the pending merger with Allergan.

The fourth-quarter reported revenues were $14 billion, an increase of $930 million or 7% from the fourth quarter of 2014, according to the release. The full-year reported revenues of $48.9 billion reflected 6% operational growth, according to the release.

“On Sept. 3, 2015, Pfizer acquired Hospira, Inc. (Hospira),” according to the release. “Full-year financial result for the year ended Dec. 31, 2015, reflect four months of legacy Hospira U.S. operations and three months of legacy Hospira international operations,” according to the release.

“The integration of Hospira is well under way and we now look forward to completing the combination with Allergan, which we still expect during the second half of this year,” Ian Read, chairman and CEO of Pfizer, said in the release. “We see this transaction as a very effective driver of accelerating the growth potential of our [Innovative Products] business, strengthening our [Established Products] business and more efficiently allocating our capital globally, all factors which remain consistent with our overarching strategy of value creation.”

Frank D’Amelio, Pfizer’s chief financial officer, stated in the release that “2015 was truly a transformational year for Pfizer. In addition to our strong financial performance, we completed the Hospira acquisition, announced the pending combination with Allergan and continued to deliver shareholder value through prudent capital allocation.”

The 2016 financial guidance, which included ranges for reported revenues excluded any impact from the pending combination with Allergan, according to the release.

Reference: www.pfizer.com