Pfizer Sees 40 Percent Rise in 2006 Net on Cost Cuts
‘Pfizer Inc. said 2006 net income will rise 40 percent as the world’s largest drugmaker enters the second year of a $4 billion cost-cutting plan.
Earnings this year will rise to $11.4 billion to $11.7 billion, or $1.52 to $1.56 a share, from $8.09 billion, or $1.09, in 2005, Pfizer said today in a statement as executives met with analysts at a meeting in New York. Profit excluding depreciation and expenses related to cost cutting will be about $2 a share, compared with this year’s $2.02.’
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