Pfizer meets Street

PFE reported second quarter EPS of $0.47, meeting the Street consensus and up 57% quarter over quarter. Second quarter revenues grew 24% to $12.3 billion, in part reflecting PFE's 2003 acquisition of Pharmacia.

Worldwide human pharmaceutical sales were up 24% for the quarter to $10.7 billion, although worldwide sales of erectile dysfunction drug Viagra sildenafil were down 7% to $389 million. In the U.S., sales of the drug fell 12% to $201 million. Viagra is under continued pressure in the ED market from competing PDE-5 inhibitors Levitra vardenafil from Bayer (FSE:BAYG; BAY) and GlaxoSmithKline (LSE:GSK; GSK), and Cialis tadalafil from Icos (ICOS) and Eli Lilly (LLY). ...