Pharma report: The good (PFE), the so-so (GSK) and the ugly (GENZ)

On a day full of pharmaceutical companies reporting, it's actually quite surprising to find Pfizer (PFE) in the lead. The world's largest drugmaker reported second-quarter financial results this morning, and despite profits tumbling 19 percent, they slightly exceeded analysts' estimates. Revenue was largely impacted by unfavorable foreign exchange, the company said, but at the same time it boosted its 2009 forecast. The company also said it has achieved "significant milestones" regarding the pending Wyeth acquisition. PFE shares gained two percent by midday trading.


Pfizer wasn't the only one beating expectations, but it was the one least expected to do so.