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Pharmacia meets forecasts
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February 12, 2001: 7:34 a.m. ET
Maker of Rogaine posts higher 4Q earnings on 8% boost in sales
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NEW YORK (CNNfn) - Pharmacia Corp., the drugmaker, reported fourth-quarter earnings Monday that matched analysts' forecasts and surpassed the year-earlier period.
The Peapack, N.J.-based company posted profit of $417 million, or 32 cents a diluted share. That matched the consensus of analysts surveyed by First Call, and topped the $316 million, or 24 cents a share, in the fourth quarter of 1999.
Total sales rose 8 percent in the quarter to $4.55 billion.
 For all of 2000, earnings rose more than 30 percent to $1.90 billion, or $1.45 a diluted share. Sales grew 11 percent to $18.15 billion.
Pharmacia said it expects income from continuing operations to increase 20 percent in 2001, with sales in both its agricultural and pharmaceutical businesses increasing by a double-digit percentage.
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Among Pharmacia's best-known products are Rogaine, the anti-baldness treatment, and Celebrex, used in the treatment of arthritis.
Pharmacia (PHA: Research, Estimates) shares closed Friday at $54, up $1. 
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