Pfizer profit falls, along with Lipitor
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Pfizer Inc.  on Wednesday reported lower second-quarter earnings on competition with generics, and said sales of its best-selling cholesterol fighter Lipitor declined 13 percent.
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Merck & Co. MRK.N on Thursday said  its third-quarter profit fell, hurt by big charges for the  recall of the company's Vioxx arthritis drug in late September  after it was linked to heart attacks and strokes.
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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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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.
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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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Pfizer Inc. PFE.N , the world's  largest drug company, on Wednesday said fourth-quarter earnings  rose, helped by strong sales of cholesterol treatment Lipitor  and other medicines.
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NEW YORK, Dec. 2 -- Pfizer Inc. announced Saturday that it has cut off all clinical trials and development work for a cholesterol drug that was supposed to be a star product because of an unexpected number of deaths and cardiovascular problems among patients who used it.
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Pfizer Inc. PFE.N, the world's  largest drug company, on Wednesday said fourth-quarter earnings  rose on strong sales of cholesterol treatment Lipitor and  arthritis drug Celebrex.
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Shares in Pfizer Inc, the world's  biggest drugmaker, fell more than 10 percent in early trade in  Europe on Monday, after news it had scrapped its most important  experimental drug.
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Merck &amp; Co. profits plunged in the third quarter in the wake of the recall of its Vioxx arthritis drug and Eli Lilly &amp; Co.
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Credit Suisse First Boston lowered 2005 earnings estimates for Pfizer (nyse: PFE - news - people ) after the generic version of Neurontin was launched earlier than expected.
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US stocks fell on Friday, hurt by a slew of negative reports from top drug makers and oil prices climbing by $2 a barrel. Pfizer Inc.
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European shares lost nearly 1 percent on  Thursday, tracking Wall Street's fall after disappointing  earnings, while drug maker Novartis fell 1.2 percent on margin  concerns despite bumper forecasts.
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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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BASEL, Switzerland  - Novartis AG 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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Shares of Pfizer Inc. slipped on Wednesday, following reports that a study had likened the companyâs Bextra arthritis drug to Merck&#39;s Vioxx in terms of its cardiovascular risks.
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Shares in GlaxoSmithKline fall after it issues a profit warning on the back of falling demand for a key drug.