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Pfizer revenue grows in third quarter

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NEW YORK — Revenue during the third quarter of 2003 increased 56% from the previous year for Pfizer, to $12.5 billion, according to a company earnings release. The company attributes most of its growth to its integration of Pharmacia.

Pfizer’s earnings for the quarter fell, however, as a result of costs associated with the acquisition, according to the release.

In ophthalmology, Xalatan (latanoprost) earned $254 million in revenue during the quarter. Overall, Pfizer’s ophthalmic line earned $310 million during the quarter. Comparisons to year-ago figures were not made available.

Pfizer is “sharpening its focus on the needs of patients who aren’t typically served by broad-market therapies,” said Karen Katen, executive vice president and president of Pfizer Global Pharmaceuticals, in the press release. To that end, Ms. Katen spoke about the company’s “comprehensive ophthalmology portfolio, which now includes Zithromax (azithromycin tablets) for trachoma and Xalatan for glaucoma and is expected to include Macugen (pegaptanib sodium), in phase 3 clinical development.” Pfizer will comarket Macugen with EyeTech Pharmaceuticals once the drug is approved, according to the release.