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Wednesday, 17 October, 2001, 13:36 GMT 14:36 UK
Anti-lipid drug swells Pfizer profits
Selection of drugs made by Pfizer
Pfizer has not suffered from the loss of the Viagra patent
Pfizer, the world's biggest pharmaceutical firm, has seen a 28% jump in profits, driven mainly by soaring sales of its main drugs.

Pfizer, which makes anti-impotence drug Viagra and anti-cholesterol remedy Lipitor, earned $2.2bn (�1.52bn) in the July-to-September quarter, at the top end of analysts' estimates.

The star performer among Pfizer's portfolio was Lipitor, which saw sales surge by 37%, more than twice the growth rate for the firm's other prescription drugs.

Anti-cholesterol drugs have been wildly popular over the past few years, despite scares over the side-effects of products such as Bayer's Baycol/Lipobay.

Optimism

Pfizer said that its prospects for the rest of the year were strong, and should not be materially affected by the fall-out from the US attacks.

The company said it should achieve further double-digit growth next year, and was in line to meet - or even exceed - its previously stated earnings targets.

The loss of Pfizer's exclusive rights to Viagra - one of the world's best-known drugs - has also not damaged the firm's performance.

In the confused market atmosphere since 11 September, the pharmaceutical industry has been seen as one of the safest havens.

See also:

19 Sep 01 | Business
Attacks scuttle business deals
17 Jul 01 | Business
Drugs firms beat the slowdown
08 Nov 00 | Business
Pfizer loses Viagra patent
26 May 01 | Health
Viagra 'works for women'
07 Feb 00 | Business
Drugs giants merge
19 Apr 01 | Africa
Drugs firms drop Aids case
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