News Headlines Article

Pfizer 2Q net income rises 25 pct on lower costs
San Francisco Chronicle

Drugmaker Pfizer Inc.’s second-quarter net income jumped 25 percent as sharply lower costs for production, marketing and restructuring more than offset a plunge in revenue from cholesterol fighter Lipitor due to increasing generic competition.

The world’s biggest drugmaker easily beat Wall Street expectations. Pfizer’s stock rose 19 cents to $23.90 in premarket trading.

Commands