Pfizer first quarter income up 10

May 3, 2011

, NEW YORK, May 3 – US drugmaker Pfizer said Tuesday that first quarter earnings jumped 10 percent despite a 13 percent fall in sales of its best-selling anti-cholesterol drug Lipitor.

Net earnings at the world\’s biggest pharmaceuticals company grew to $2.22 billion for the January-March period, from $2.01 billion in the same period in 2010.

Revenues were $16.50 billion, down from $16.58 billion, the company said, with Lipitor contributing sales of $2.39 billion, down from $2.76 billion.

International revenues grew 2.0 percent despite a 25 percent drop in foreign Lipitor sales, while revenues inside the United States were down 3.0 percent.

The figures do not include gains from the $2.4 billion sale of capsule-maker unit Capsugel to private-equity firm KKR, announced in early April.

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