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English Definitions English-French English-Italian Eng->Portuguese Powered by Ultralingua ARTICLE TOOLS CHANGE FORMAT PRINT PAGE EMAIL ARTICLE (+) FONT (-) FONT Generic competition hurts profit at Pfizer The Associated Press, Reuters, Bloomberg News THURSDAY, OCTOBER 20, 2005 NEW YORK Pfizer, the largest drug maker, on Thursday reported a 52 percent drop in profit for the third quarter and withdrew its financial outlook through 2007 because of tumbling sales of its Celebrex arthritis drug and generic competition for other medicines, sending its shares to an eight-year low.

Pfizer, based in New York, also said that it expected 2005 earnings to fall as much as 9.4 percent, a steeper decline than its earlier forecast.

The company has said it expected a healthy performance this year, and forecast 2006 earnings to rise sharply, leading to acceler...

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