Pfizer
This article was originally published in The Rose Sheet
Executive Summary
Bain de Soleil sunscreen marketer's Consumer Health Care division sales slid 8.2% in the U.S. in the third quarter, the company announced Oct. 13. Worldwide consumer sales dropped 12.2% to $108 mil. Pfizer attributed the decreases to "competitive pressures from private-label and store brand products in the U.S., as well as the unfavorable impact of foreign exchange." The consumer division accounts for 3.2% of total revenues. On a consolidated basis, revenues increased 21.2% to $3.33 bil. during the quarter with stronger sales in the U.S. than in international markets. Net income more than doubled to $1.4 bil. over the same period last year, largely as a result of gains from the company's divestiture of the Medical Technology Group