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The company also boasted that it was China's most profitable pharmaceutical company.
As a result, second-generation antipsychotics had become one of the fastest-growing and most profitable pharmaceutical classes.
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Despite the company's research and development costs, Mr. Schmidt said, Genentech is one of the most profitable of pharmaceutical and biotechnology companies.
That makes it by far the most profitable market for pharmaceutical companies, leading to complaints that Americans are effectively subsidizing health systems elsewhere.
As of 2005 Purina Petcare was Nestlé's second most profitable division behind pharmaceuticals.
A tiny Luxembourg-based unit of Shire, a multinational drug firm specialising in treatments for ADHD, Crohn's disease and rare genetic disorders, has become one of the most profitable outposts of the pharmaceutical empire.
He enlisted the support of giant pharmaceutical companies, among the most profitable of all manufacturing firms, by refusing to cap drug prices.
Sales of $643 billion a year have made the pharmaceutical industry the number one most profitable business in the country.
The American pharmaceutical industry -- often ranked as the country's most profitable -- disputes the view that its profits are unconscionably high.
The wholesale prices of pills are set to recoup the costs of research, which the industry says is about $500 million per new drug, to pay for marketing, lobbying and other overhead, and to earn the huge returns that make the pharmaceutical industry among the world's most profitable.
At Pfizer, skeptics have questioned the decision to shed some of its most profitable units in favor of doubling down on the risky pharmaceutical business.
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CEO of Professional Science Editing for Scientists @ prosciediting.com