Thursday, November 01 14:41:56
Pfizer today reported quarterly revenue well below Wall Street expectations, following the loss of patent protection on its Lipitor cholesterol fighter.
The largest U.S. drugmaker said that it had earned $3.21 billion, or 43 cents per share, in the third quarter. That compared with $3.74 billion, or 48 cents per share, in the year-earlier period, when the company recorded a $1.3 billion gain on the sale of its Capsugel business.
Excluding special items, Pfizer earned 53 cents per share. Analysts on average expected 53 cents, according to Thomson Reuters I/B/E/S.
Global sales fell 16 percent to $13.98 billion, well below Wall Street expectations of $14.64 billion. (C ) Reuters