Pfizer Suffers Grim Q3, But Management Points To Future Growth Drivers

Pfizer’s revenues fell 16% in the third quarter, as the pharma giant absorbed exclusivity losses including the loss of Lipitor, but management tried its best to highlight long-term growth drivers during a Nov. 1 conference call.

There never was any question that 2012 would be a difficult year for Pfizer Inc. as the big pharma cycles through the loss of patent protection for Lipitor (atorvastatin), and the company’s third-quarter sales reflect that challenge. But management tried to deflect investor attention away from the 2012 financial realities during a Nov. 1 conference call, and emphasize the company’s longer-term growth prospects instead.

“The peak year of patent expirations for us, as far as we can see, is 2012 when we will lose...

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