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Pfizer's cost-cutting drives Q3 profit as sales fall by 3%

This article was originally published in Scrip

Executive Summary

With only two of its top 10 pharmaceutical products achieving sales growth, Pfizer's third-quarter revenues fell by 3% to $11.6 billion. Competition from generic versions of its products and a $610 million hole carved out of revenues by the effect of the dollar strengthening against other currencies were the main factors behind the top-line decline.

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