Pfizer has beaten analysts' estimate for adjusted profit, helped by strong demand for its pneumonia vaccine Prevnar and breast cancer drug Ibrance.
The company also reported an $11 billion gain from the new tax laws in the US.
The drugmaker joins several pharmaceutical companies, including Johnson & Johnson and AbbVie, which are expecting to benefit from the recent tax overhaul.
Pfizer said its net income surged to $12.27 billion, or $2.02 per share, in the fourth quarter, from $775m, or 13 cents per share, a year earlier.
The drugmaker said it gained $11.34 billion from the new tax law, signed into law by President Donald Trump last month.
Pfizer said it would pay about $15 billion in US taxes over eight years to bring back money held overseas.
Excluding the tax gain and other items, the company earned 62 cents per share, beating analysts' estimates of 56 cents, according to Thomson Reuters.
The company said its revenue rose marginally to $13.70 billion, slightly ahead of estimates of $13.68 billion.
Pfizer today forecast full-year adjusted earnings per share between $2.90 and $3 on revenue of $53.5 billion and $55.5 billion.
Analysts on average were expecting a profit of $2.78 per share and revenue of $53.88 billion.
