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The American pharmaceutical company Pfizer reported a fall in profits in the third quarter. The reason given was the strong competition for a major revenue contributor. Bottom line, the surplus fell 14 percent to $3.2 billion. Before exceptional items, rival Bayer reported a profit of around $4 billion from (-16 percent).

The loss of patent for the lipid-lowering drug Lipitor was significant, as sales slumped by 16 percent to around $14 billion.

With the quarterly results – initially delayed due to Hurricane Sandy – the Group announced a share buyback program worth billions, following the sale of their baby food division to Swiss food giant Nestlé.


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