Pfizer Inc. said today its fourth-quarter earnings more than quadrupled to $2.8 billion, or 38 cents a share, from $602 million, or 8 cents a share, in the previous year. Excluding non-recurring items, earnings rose to $4.39 billion, or 58 cents a share. Analysts were expecting 59 cents a share.

Revenue rose 7% to $14.92 billion from $13.98 billion. Analysts were expecting $14.05 billion.

The rise in revenue was mainly fueled by strong sales of pain drugs Celebrex and Bextra that added 24 and 27% respectively in the past quarter. The annual sales of Celebrex are up 75%, and Bextra sales show an 85% increase.

2005 will be a difficult year for Pfizer as the key patents expire, which may cost the drug giant up to $11billion in sales.

"These are challenging times for our company and our industry, and the years 2005-2007 represent a critical period for Pfizer," said Hank McKinnell, chief executive.