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Acquisition and competition burden Pfizer


HB NEW YORK. The world’s largest drug manufacturer Pfizer has felt in the third quarter against the wind. The increasing competition from generic competitors for the key revenue drivers – the cholesterol drug Lipitor – and the cost of the billion-dollar takeover of rival Wyeth made to provide the U.S. pharmaceutical giant. Profit fell to 866 million dollars to 2.88 billion U.S. dollars a year earlier, as the company announced on Tuesday.

Adjusted earnings per share increased according to the company by six percent to 0.54 dollars. Revenue increased by 39 percent to about 16.2 billion dollars.

Analysts had expected a lower surplus, but with a higher profit. Because of the Wyeth-acquisition of rival Merck & Co expects a higher net profit. The U.S. company now provides an adjusted earnings per share from 2.17 to 2.22 dollars per share for full year in view. Pfizer claims to be implemented on the right track, its billion-dollar savings goals.