NEW YORK Pfizer Inc. reported that its fourth-quarter profit fell by half due to higher costs for production, administration and restructuring.
The world’s second-biggest drugmaker’s revenue rose by 7 percent, ending a long stretch of declining sales due to generic competition to one-time blockbusters. New York-based Pfizer benefited from growing sales of its newest products, as well as the additional of injectable medicines made by Hospira, which it acquired last September.
The maker of Viagra and pain treatment Lyrica said on Tuesday that net income was $613 million, or 10 cents, per share. A year earlier, its net income was $1.23 billion, or 19 cents per share.
Adjusted for non-recurring costs, includ…
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