Alimta

... Bloomberg.com: Top Worldwide Updated: New York: Oct 20 12:01London: Oct 20 17:01Tokyo: Oct 21 01:01 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 (Update5) 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 after 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 t...

... Bloomberg.com: Top Worldwide Updated: New York: Oct 20 11:00London: Oct 20 16:00Tokyo: Oct 21 00:00 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 (Update3) Oct.

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

Shares dropped as much as 8 percent.

Net income declined to $1.59 billion, or 22 cents a share, 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, by 5 percent to $12.2 billion.

Pfizer cut its 2005 forecast and withdrew its 2006 and 2007 projections.

Sales of Celebrex dropped 44 percent and Neurontin 80 percent.

Profit this year excluding costs linked to the purchase of Vicuron Pharmaceuticals Inc.

will be $1.02 to $1.04 a share, down from a July forecast of $1.24, Pfizer said.

Chief Executive Hank McKinnell is carrying out a plan to cut $4 billion from annual costs by 2008 as he prepares for patent expirations on some of the company's most profitable drugs.

``It looks like problems across the board,'' said Miller Tabak & Co.

health-care strategist Les Funtleyder in a telep...

... Bloomberg.com: U.S.

Updated: New York: Oct 20 11:00London: Oct 20 16:00Tokyo: Oct 21 00:00 US AUBZFPGRHKIMJPLNSMIND : Regions Top Worldwide Regions Asia Australia & New Zealand Canada Europe Germany Japan Latin America U.K.

U.S.

Markets Economy/Politics Commentary Sports Culture RESOURCES: Bloomberg TV Bloomberg Radio Markets U.S.

E-Mail This Story Printer-Friendly Format Pfizer's Earnings Plunge 52 Percent on Lower Sales of Celebrex Painkiller U.S.

Stocks Fail to Build on Rally; Pfizer Drops on Forecast, SBC Gains Ford Motor Reports First Quarterly Loss Since 2003 on Declining SUV Sales Lilly's 3rd-Qtr Profit Rises 5.2% on New Drugs (Update3) Oct.

20 (Bloomberg) - Eli Lilly & Co., maker of Zyprexa, the world's top-selling schizophrenia drug, said third-quarter profit rose 5.2 percent as the company cut costs and sales of some of its newer drugs increased.

Net income for Lilly rose to $794.4 million, or 73 cents a share, from $755 million, or 69 cents, a year earlier, Indianapolis-based Lilly said in a statement.

Sales rose 10 percent to $3.6 billion, while Lilly's cost to produce these medicines rose 4 percent to $845.7 million.

Higher sales of two drugs approved in the last 20 months helped offset a 10 percent U.S.

sales decline for Zyprexa.

The Cymbalta antidepressant had a six-fold rise to $182.8 million and sales of the Since doctors have become more aware of Z...