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Pfizer net down on lower sales, higher research, legal costs

2015-01-27 15:37:07| Biotech - Topix.net

Pfizer Inc.'s fourth-quarter profit fell by half as worsening generic competition and unfavorable currency rates reduced sales, and higher research spending and legal costs also hurt the bottom line. The world's second-biggest drugmaker by revenue reported lower sales for most of its huge portfolio of prescription medicines, with the biggest hit coming from new generic competition to popular painkiller Celebrex.

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Category:Biotechnology and Pharmaceuticals

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