Pfizer profits jump on asset sale gain
- Published: 29 Jan 2013 at 22.44
- Online news: World
Pfizer reported Tuesday a big jump in fourth-quarter earnings as cost-cutting efforts plus a gain from an asset sale helped offset the loss of exclusivity of a blockbuster cholesterol drug.
Pfizer reported Tuesday a big jump in fourth-quarter earnings as cost-cutting efforts plus a gain from an asset sale helped offset the loss of exclusivity of a blockbuster cholesterol drug.
The world's biggest pharmaceutical company posted fourth-quarter net income of $6.3 billion, up from $1.4 billion in the year-earlier period. The results included a $4.8 billion gain from the sale of the Nutrition business to Nestle.
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