Pfizer Earnings Show a Decline as Sales Slow
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Pfizer saw a 13 percent decline in sales of its best-selling cholesterol treatment, Lipitor, which contributed to lower-than-expected second quarter earnings.
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NEW YORK  - Drugs giant Pfizer Inc.&#39;s stock fell on a report that new prescriptions for its blockbuster pain medication Celebrex slumped 56 percent last week.
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Global drugs giant Pfizer sees profits fall after a drop in worldwide sales of cholesterol drug Lipitor.
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Pfizer (PFE:NYSE - news - research) was treading water Monday morning, hovering around its 52-week low amid reports that it plans to halt advertising of its embattled painkiller Celebrex.
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AstraZeneca reported a 12.5 percent drop in profit and Bristol-Myers Squibb posted a loss, albeit a narrower one.
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Lucent Technologies Inc.  said  on Monday it expects third-quarter earnings to fall due mainly  to slower sales of wireless network equipment in North America,  in news that pushed down its shares.
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Schering-Plough Corp  reported on Monday that third-quarter profit and sales rose, but still fell short of estimates, sending shares down 13 percent amid concerns about its flagship cholesterol drugs.
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Stocks fell on Wednesday after bank  JPMorgan Chase & Co.JPM.N and drug maker Pfizer Inc. PFE.N  reported disappointing earnings, while a lackluster outlook  from cell-phone maker Motorola Inc. MOT.N stoked concerns  about weak technology spending.
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Pfizer&#39;s surprise announcement of possible health risks connected with its Celebrex drug pushed stocks lower in heavy trading Friday, renewing investors&#39; concerns over the pharmaceutical sector.
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NEW YORK - Pfizer Inc  said on Thursday third-quarter earnings fell sharply due to a $2.8 billion charge to end its involvement with the poorly selling inhaled insulin drug Exubera.
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Drugstores reported unusually weak  December sales on Thursday, weighed down by a slow flu season,  lower-priced generic drugs and sluggish sales of seasonal  items.
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Pfizer Inc.  on Wednesday  reported lower-than-expected quarterly earnings on competition  with generics, and said global sales of cholesterol fighter  Lipitor fell 13 percent amid slipping demand for the company&#39;s  flagship product.
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MedImmune's shares sank nearly 9 percent yesterday after the company reported weaker-than-expected fourth-quarter revenue for two high-profile products and disclosed a delay in filing for federal approval of a new version of Synagis, its lead drug.
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Pfizer is expected to see a sharp fall in sales of one of its best-selling drugs after a warning by US regulators.
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The company's dismal earnings have dimmed investor enthusiasm.
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Stocks fell on Wednesday after  quarterly earnings reports, including those from Motorola Inc.  MOT.N and Pfizer Inc. PFE.N, failed to impress investors.
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Bristol-Myers Squibb Co. BMY.N on  Friday said quarterly profit fell 16 percent on special charges  and lower U.S. sales amid competition from rival brands and  cheaper generics.