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Pfizer beats first-quarter profit estimates

Posted by: Admin | Posted on: May 2nd, 2017 | 0 Comments

Drugmaker Pfizer Inc (PFE.N) reported a 2.7 percent rise in quarterly profit, helped by higher sales of breast cancer drug Ibrance.

The largest U.S. drugmaker’s net profit rose to $3.12 billion, or 51 cents per share, in the first quarter, from $3.04 billion, or 49 cents per share, a year earlier.

Revenue fell 1.7 percent to $12.78 billion.

(Reporting by Divya Grover in Bengaluru; Editing by Saumyadeb Chakrabarty)

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