Pfizer Inc on Tuesday reported lower-than-expected quarterly profit and a declin...
FILE PHOTO: The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S., August 1, 2016. REUTERS/Andrew Kelly
The largest U.S. drugmaker is spinning off its struggling Upjohn unit, which houses off-patent drugs including Lyrica and Viagra, and separated its consumer health business last year to focus on its more profitable drugs. Sales of breast cancer drug Ibrance, a growth driver for Pfizer, rose 13% to $1.28 billion in the quarter, but missed the consensus estimate of $1.35 billion, according to IBES data from Refinitiv.Excluding one-time items, Pfizer earned 55 cents per share, below the average analyst estimate of 58 cents. Operating costs rose 1%.
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