Pfizer Inc Reaffirms FY 2012 Guidance; Expects To Repurchase Approximately $5 Billion Of Common Stock; Updates On IPO Of 20% Ownership Stake In Zoetis

Pfizer Inc reaffirmed fiscal 2012 financial guidance, reflecting solid performance year-to-date, continued confidence in the business, financial flexibility and the significant cost savings generated by cost-reduction and productivity initiatives. The Company expects reported revenues of $58.0 to $60.0 billion, reported diluted EPS of $1.23 to $1.38 and adjusted diluted EPS of $2.14 to $2.24. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $59.0 billion for fiscal 2012. The Company anticipates filing a registration statement with the Securities and Exchange Commission by mid-August for a potential initial public offering (IPO) of up to a 20% ownership stake in Zoetis. If the IPO is successfully completed, which it is targeting for the first half of 2013, the Company will have a variety of options to achieve a potential full separation of Zoetis. The Company also continue to expect to repurchase approximately $5 billion of common stock this year, with $3 billion repurchased through July 30.