"The largest U.S. drugmaker reported higher-than-expected second-quarter revenue, helped by growing demand for its cancer medicines. But overall sales fell on competition with newer rival drugs and cheaper generics, trends that have quickened Pfizer’s efforts to buy companies and drugs that can fortify its medicine chest."
"Pfizer shares have been flat this year due to declining revenue, while the drug sector as a whole has seen shares rise 11 percent. In the next four years, generic rivals will challenge well-known Pfizer products such as the Celebrex painkiller, Lyrica nerve pain treatment and anti-impotence drug Viagra, putting pressure on Pfizer to acquire new products. "
Reuters Article 29/7.
ANP Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
