NEW YORK (AP) -- Pfizer Inc. says its fourth-quarter profit more than quadrupled, despite competition from generic drugs hurting sales, because of a $4.8 billion gain from selling its nutrition business.
The world's biggest drugmaker says its net income was $6.32 billion, or 85 cents per share, up from $1.44 billion, or 19 cents per share, a year earlier.
Excluding one-time items, the Viagra maker would have had a profit of $3.51 billion, or 47 cents per share -- 3 cents more than analysts surveyed by FactSet were expecting.
Revenue fell 7 percent to $15.1 billion, mainly due to generic competition to cholesterol blockbuster Lipitor. Analysts expected $14.35 billion.
The New York-based company's stock rose 11 cents to $26.95 in premarket trading.
Friday, May 17 2013 8:53 PM EDT2013-05-18 00:53:52 GMT
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
Friday, May 17 2013 11:36 AM EDT2013-05-17 15:36:32 GMT
The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it.
The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it.
Friday, May 17 2013 11:04 AM EDT2013-05-17 15:04:49 GMT
(AP Photo/Charles Dharapak)
The Treasury Department's top investigator for tax matters is telling Congress that he is still investigating whether outside political pressure caused the Internal Revenue Service to improperly target conservative groups.
The Treasury Department's top investigator for tax matters is telling Congress that he is still investigating whether outside political pressure caused the Internal Revenue Service to improperly target conservative groups seeking tax-exempt status.
Friday, May 17 2013 6:46 AM EDT2013-05-17 10:46:58 GMT
The numbers sum up the frenzy that has taken over the Golden State since it joined the madness over Powerball, which has seen its jackpot soar to $550 million for Saturday's drawing.
The numbers sum up the frenzy that has taken over the Golden State since it joined the madness over Powerball, which has seen its jackpot soar to $550 million for Saturday's drawing.
Thursday, May 16 2013 2:49 PM EDT2013-05-16 18:49:22 GMT
Powerball's estimated jackpot has soared to $550 Million dollars for Saturday's drawing after none of the tickets sold for the Powerball game Wednesday evening matched all six numbers drawn.
Powerball's estimated jackpot has soared to $550 Million dollars for Saturday's drawing after none of the tickets sold for the Powerball game Wednesday evening matched all six numbers drawn.
Thursday, May 16 2013 1:40 PM EDT2013-05-16 17:40:30 GMT
A proposal to build a major Long Island casino with video slot machines is part of closed-door negotiations to expand casino gambling in New York.
A proposal to build a major Long Island casino with video slot machines is part of closed-door negotiations to expand casino gambling in New York, according to the head of the Nassau County Off-Track Betting Corp. and a legislative bill.
Thursday, May 16 2013 9:15 AM EDT2013-05-16 13:15:24 GMT
The Justice Department is opening a criminal investigation of the Internal Revenue Service.
The Justice Department is opening a criminal investigation of the Internal Revenue Service just as another probe concludes that lax management enabled agents to improperly target tea party groups for extra scrutiny when they applied for tax exempt status.
