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Pfizer reports revenue increases of 40% for the year

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NEW YORK — Pfizer’s year-end revenue increased 40% to $45.2 billion, the company announced in an earnings release. Net income for the year rose to $12.7 billion.

Of note during 2003 were the “rapid and effective” integration of Pharmacia, strong performance of lead products and successful launches of new products, said Hank McKinnell, chairman and chief executive officer, in the press release.

Within ophthalmology, the company’s lead medication, Xalatan/Xalcom (latanoprost) became the world’s first ophthalmic treatment to achieve $1 billion in annual sales, according to the release.

Macugen (pegaptanib sodium), for the treatment of age-related macular degeneration, is in phase 3 development by Pfizer and Eyetech Pharmaceuticals.

The company also noted it remains on track to file 20 major New Drug Applications in the United States from 2001 through 2006.