(Corrects that sales fell 2 percent in quarter, not 7 percent,
and that oncology drug sales rose 24 pct, not 26 pct)
Oct 29 Pfizer Inc reported
better-than-expected third-quarter earnings on Tuesday, helped
by costs cuts and growing sales of recently approved cancer
The largest U.S. drugmaker said it earned $2.59 billion, or
39 cents per share in the quarter, compared with $3.21 billion,
or 43 cents per share, in the year-earlier period.
Excluding special items, Pfizer earned 58 cents per share.
Analysts, on average, expected 56 cents per share, according to
Thomson Reuters I/B/E/S.
Global company sales fell 2 percent to $12.64 billion, hurt
by generic competition for cholesterol fighter Lipitor and other
medicines. Wall Street had expected sales of $12.7 billion.
Sales of its oncology drugs jumped 24 percent in the quarter
to $407 million, in contrast to declining sales of Pfizer's
array of specialty care and primary care medicines.
Its shares were little changed in premarket trading.
(Reporting by Ransdell Pierson; Editing by Jeffrey Benkoe and