Pfizer quarterly revenue soars 19.7%

[BENGALURU] US drugmaker Pfizer Inc reported a 19.7 per cent rise in quarterly revenue, boosted by sales of its new treatments for cancer and its Hospira acquisition.

The company's revenue rose to US$13.01 billion in the first quarter, from US$10.86 billion a year earlier.

Net income rose to US$3.02 billion, or 49 cents per share, from US$2.38 billion, or 38 cents per share.

Pfizer and Allergan Inc walked away from their US$160 billion merger in April, citing new US Treasury rules aimed at blocking the deal's tax benefits.

REUTERS