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Pfizer, Lilly profit hurt by generic competition
USA Today

Two big drug makers saw sales hurt by generic competition in the fourth quarter, but Pfizer’s profit more than quadrupled because of a $4.8 billion gain from selling its nutrition business.

Eli Lilly’s fourth-quarter earnings slipped 4% as generic competition continued to eat away at sales of its former best-seller, the antipsychotic Zyprexa, but the drugmaker cut expenses again and growth from other products helped it beat analyst expectations. It also raised its forecast for 2013, and its shares edged up in premarket trading.

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