Pfizer Profits Dip As It Ramps R&D Spending For New Drugs
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Pfizer reported a dip in profits Tuesday but reaffirmed full-year targets and pointed to progress in advancing new treatments to address cancer and obesity.
The pharmaceutical giant notched higher sales in a number of products, including blood thinner drug Eliquis and bladder cancer treatment Padcev, which helped to offset significantly lower sales from Covid-19-related products.
Profits in the first quarter fell nine per cent to $2.7 billion, while revenues rose five percent to $14.5 bil
Pfizer reported a dip in profits Tuesday but reaffirmed full-year targets and pointed to progress in advancing new treatments to address cancer and obesity.
The pharmaceutical giant notched higher sales in a number of products, including blood thinner drug Eliquis and bladder cancer treatment Padcev, which helped to offset significantly lower sales from Covid-19-related products.
Profits in the first quarter fell nine per cent to $2.7 billion, while revenues rose five percent to $14.5 bil
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