Pfizer sales lag, hurt by weak dollar

Nov 02, 2010 |

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Pharmaceutical giant Pfizer Inc

Pharmaceutical giant Pfizer Inc. said on Tuesday that revenue in the third quarter jumped 39 per cent due to its acquisition of fellow drugmaker Wyeth, but hefty charges related to that $68 billion purchase dragged its profit down 70 per cent.

The New York-based maker of cholesterol blockbuster Lipitor and impotence pill Viagra says net income was $866 million, down from $2.88 billion, Excluding one-time items, net income would have been $4.37 billion, or 54 cents per share.

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