Pfizer reports earnings

PFE reported third quarter 2005 adjusted EPS of $0.51, beating the Street consensus of $0.48, but down 7% from $0.55 in the third quarter of 2004. Figures exclude merger-related costs and other charges.

Revenues for the quarter decreased 5% to $12.2 billion from $12.8 billion in 2004, including a 7% drop in human health revenues to $10.6 billion from $11.3 billion. The decrease in human health revenues reflects declines in sales of COX-2 inhibitors Bextra and Celebrex and generic competition for several drugs, including seizure drug Neurontin. Third quarter Celebrex sales were $446 million, down 44% from $797 million a year ago. PFE suspended sales of Bextra in April. Neurontin sales were down 80% to $155 million from $764 million a year ago. ...