Pfizer profit falls short, Lipitor disappoints
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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's flagship product.
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BASEL, Switzerland  - Swiss drugmaker Novartis AG missed forecasts with a 42 percent drop in fourth-quarter net profit, hit by generic competition and a one-off restructuring charge, sending its shares lower.
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Bristol-Myers Squibb's third-quarter profit was lower on amid intense competition for its products from rivals and generic drugs.
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NEW YORK - Pfizer Inc.  said on Thursday third-quarter earnings fell sharply, hurt by a $2.8 billion charge to end its involvement with its poorly-selling Exubera inhaled insulin drug.
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BASEL, Switzerland  - Novartis AG's  fourth-quarter net profit fell 42 percent to $931 million, missing forecasts, hit by generic competition and a one-off restructuring charge, the Swiss drugmaker said on Thursday.
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Bristol-Myers Squibb (BMY:NYSE - news - research) reported a sharply lower profit in the third-quarter as generic competition continued to eat away at drug sales and the company ratcheted up spending on research and development of new drugs.
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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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Profit for the managed care provider matched the expectations of analysts, though revenue came in below the $7.17 billion expected.
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Bristol-Myers Squibb Co. BMY.N on  Friday reported a lower third-quarter profit as U.S. revenue  fell amid intense competition for its products from rivals and  generic drugs.
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U.S. stocks closed lower on Friday,  weighed down by a number of negative reports from top drug  makers, including Pfizer Inc. PFE.N, and a $2 jump in the  price of crude oil.
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U.S. stocks fell on Friday dragged  down by a string of negative reports from drug makers, with  Pfizer Inc. PFE.N, AstraZeneca Plc. AZN.L and Eli Lilly and  Co. LLY.N delivering bad news about key products.
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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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AstraZeneca reported a 12.5 percent drop in profit and Bristol-Myers Squibb posted a loss, albeit a narrower one.
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Allergan Inc. AGN.N on Monday posted  a quarterly profit on growing sales of eye medicines and its  Botox anti-wrinkle product, but warned that 2005 earnings will  fall short of Wall Street expectations.
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The home-furnishings retailer reports lower earnings but beats expectations.
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Pfizer Inc.  on Wednesday said third-quarter earnings rose on higher sales of cholesterol and arthritis drugs, but the company cautioned that 2005 results will likely be hurt by generic competition for four other popular medicines.
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Pfizer Inc., the world&#39;s biggest drugmaker, said Wednesday third-quarter earnings rose on higher sales of key medicines. The New York based company said it earned $3.