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... Newsday.com: Pfizer Profits Slump, Lilly Ekes Out Gain Newsday.com: Pfizer Profits Slump, Lilly Ekes Out Gain Oct 20, 2005 Members Login New Users Register Benefits of Membership Home Delivery Contact Newsday Today Friday Saturday 55°Partly Cloudy 58°/44°Chance of Rain 55°/50°Rain Site Search Business Homepage News Sports Entertainment Shopping Jobs Cars Homes Place an ad NY Newsday.com Sales & Deals Grocery coupons Jobs Cars.com Real estate Apartments Classifieds Dating Place an ad Pay-Per-Click How2Guide READER SERVICES About Newsday Archives >PARTNERS WB11 Star Community Publishing Island PublicationsTourism Parents & Children Hoy - News in Spanish Stock Quotes Print Edition AP Business Pfizer Profits Slump, Lilly Ekes Out Gain Email this story Printer friendly format By THERESA AGOVINO and ASHLEY M.

HEHER AP Business Writers October 20, 2005, 5:25 PM EDT NEW YORK - Pfizer Inc., the world's biggest drug company, said Thursday its third-quarter earnings plunged 52 percent and a sluggish sales outlook for key drugs like pain reliever Celebrex and Viagra prompted it to cut profit estimates for this year and withdraw gu...

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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...

... Bloomberg.com: Top Worldwide Updated: New York: Oct 20 17:00London: Oct 20 22:00Tokyo: Oct 21 06:00 US AUBZFPGRHKIMJPLNSMIND : Top Worldwide Top Worldwide Regions Markets Economy/Politics Commentary Sports Culture RESOURCES: Bloomberg TV Bloomberg Radio Markets E-Mail This Story Printer-Friendly Format Pfizer Net Plunges 52% on Lower Sales, Purchase Costs (Update7) Oct.

20 (Bloomberg) - Pfizer Inc., the world's biggest drugmaker, said third-quarter earnings plunged 52 percent on lower sales of its Celebrex painkiller and Neurontin epilepsy drug.

Pfizer shares posted their biggest decline this year.

Net income declined to $1.59 billion, or 22 cents a share, after acquisition costs from $3.34 billion, or 44 cents, a year earlier, New York-based Pfizer said today in a statement.

Revenue fell for the first time in four years.

The company said it can't project earnings for the next two years.

Demand for Celebrex dropped 44 percent after U.S.

regulators added a warning of heart risks to the drug's label.

Neurontin fell 80 percent as cheaper generic products became available this year.

The declines will put pressure on Chief Executive Hank McKinnell to complete his plan to cut $4 billion from annual costs by 2008 as patents expire on some of the company's most profitable drugs.

``We figured there would be some deterioration, but not like this,'' said Miller Tabak & Co.

health-care strategist Les Funtleyder in a telephone interview toda...