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Drug maker Pfizer reports USD3.21b profit in Q3  Join our daily free Newsletter

MENAFN - 01/11/2012

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(MENAFN) US drug maker Pfizer Inc. reported a 14 percent decline in quarterly profits on weaker sales, AP reported.

The company said it made USD3.21 billion net profit during the third quarter, down from USD3.74 billion a year earlier. Revenue fell 16 percent to USD13.98 billion.

The company said quarterly sales dropped, mainly due to US generic competition to cholesterol fighter Lipitor, long the world's top-selling drug.

Pfizer, maker of pain reliever Lyrica, cut its full-year revenue forecast by USD1 billion.

 






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