Pfizer sees double-digit sales growth in 2010

Pfizer sees double-digit sales growth in 2010

Mumbai: Phramaceutical firm Pfizer Ltd expects double-digit sales growth in 2010 and has launched six branded generic drugs till June, Kewal Handa, managing director, told reporters on Friday.

Handa declined to give any details of future drug launches in 2010.

“We are expecting to grow at double-digit rate," Handa said.

Pfizer sales rose 19% for the 12 months to May 2010, surpassing the industry growth of 17% for that period, Handa said, citing data from market research firm IMS.

Pfizer is adding 100 women medical representatives for marketing woman healthcare products and is investing in technology, Handa said.

He declined to give specific numbers for the firm’s annual capex.

Handa also said there was a possibility for consolidation in the Indian pharmaceutical industry, but refused to comment when asked about any possible acquisitions by Pfizer.

“We don’t comment on any business development," he said.

Pfizer shares were up 3.04% at Rs1,111 in a weak Mumbai market.