July 26, 2003	Saturday	Jumadi-ul-Awwal 25, 1424

NEW YORK, July 25: Global pharmaceuticals leader Pfizer on Friday reported a $3.6 billion net loss as a results of charges linked to its acquisition of Pharmacia, but topped forecasts for its operating result.

The second-quarter results excluding the acquisition costs amounted to $2.37 billion or 30 cents a share, a penny ahead of Wall Street forecasts.

Revenues grew by 37 per cent from the same period a year ago to $9.99 billion dollars.

“We have always viewed the acquisition of Pharmacia as a unique opportunity to enhance the competitive strength and operational performance of Pfizer, both now and in the future,” said Hank McKinnell, chairman and chief executive officer.

“Pfizer’s performance in the second quarter is characterized by our rapid integration of Pharmacia — plus continued growth from the industry’s broadest array of products and an unprecedented investment in (research and development).—AFP