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Pfizer third-quarter profit beats estimates; oncology drugs shine
(Reuters) - Pfizer Inc (PFE.N) reported better-than-expected third-quarter earnings on Tuesday, helped by costs cuts and growing sales of recently approved cancer medicines.
The largest U.S. drugmaker said it earned $2.59 billion, or 39 cents per share in the quarter, compared with $3.21 billion, or 43 cents per share, in the year-earlier period.
Excluding special items, Pfizer earned 58 cents per share. Analysts, on average, expected 56 cents per share, according to Thomson Reuters I/B/E/S.
Global company sales fell 7 percent to $12.64 billion, hurt by generic competition for cholesterol fighter Lipitor and other medicines. Wall Street had expected sales of $12.7 billion.
Sales of its oncology drugs jumped 26 percent in the quarter to $407 million, in contrast to declining sales of Pfizer's array of specialty care and primary care medicines.
Its shares were little changed in premarket trading.
SOURCE: http://www.reuters.com/article/2013/10/29/us-pfizer-results-idUSBRE99S0I220131029
The largest U.S. drugmaker said it earned $2.59 billion, or 39 cents per share in the quarter, compared with $3.21 billion, or 43 cents per share, in the year-earlier period.
Excluding special items, Pfizer earned 58 cents per share. Analysts, on average, expected 56 cents per share, according to Thomson Reuters I/B/E/S.
Global company sales fell 7 percent to $12.64 billion, hurt by generic competition for cholesterol fighter Lipitor and other medicines. Wall Street had expected sales of $12.7 billion.
Sales of its oncology drugs jumped 26 percent in the quarter to $407 million, in contrast to declining sales of Pfizer's array of specialty care and primary care medicines.
Its shares were little changed in premarket trading.
SOURCE: http://www.reuters.com/article/2013/10/29/us-pfizer-results-idUSBRE99S0I220131029
Why CURE it when there's so much to be made from TREATING it!!!
Medical Accounting & Econ101: the money isn't in the cure, it's in the treatment.
Yeah, I said it.
This of how many companies & organizations would go bankrupt OVERNIGHT if a cure was found.
Medical Accounting & Econ101: the money isn't in the cure, it's in the treatment.
Yeah, I said it.
This of how many companies & organizations would go bankrupt OVERNIGHT if a cure was found.
Maybe this isn't news to you, but there is a conspiracy theory out there that big pharma is out there giving us cancer on purpose (think chem trails) so they can more or less force us to buy their extremely over priced drugs.
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