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Pfizer Profit Tops Analyst Estimates on Sales of Pain Drugs
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Pfizer Inc., the world’s biggest drugmaker, reported second-quarter profit that topped analyst estimates as sales of pain medicines offset declining revenue from expired patents.
Profit excluding some items was 60 cents a share, beating by a cent the average estimate of 16 analysts surveyed by Bloomberg. Revenue fell 0.9 percent to $16.98 billion, matching estimates. Sales of the New York-based company’s Lyrica pain pill and Enbrel arthritis medicine topped analyst predictions.