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Pfizer Q1 profit up, but drug maker cuts outlook
USA Today

Pfizer said Tuesday that its first-quarter net income rose 53% despite generic-drug competition reducing sales.

The drug maker benefited from a one-time gain compared with a quarter last year that was weighed down by legal and other charges.

Results fell short of Wall Street expectations, and Pfizer lowered its 2013 profit forecast by 6 cents to $2.14 to $2.24 per share.