Pfizer reports Viagra slump
DRUG giant Pfizer has reported a steep fall in Viagra sales amid heavy competition from rival impotence treatments.
The news came as the world’s largest drug maker said first-quarter profits had halved to 1.3 billion, despite a 47 per cent jump in overall revenues to 7bn.
Sales of cholesterol fighter Lipitor, the world’s top-selling drug, rose 19 per cent to 1.4bn, while Norvasc, the world’s best-selling drug for high blood pressure, saw sales rise 16 per cent to 636 million.
But sales of Viagra declined 12 per cent to 232m on the back of competition from GlaxoSmith-Kline’s Levitra and Eli Lilly’s Cialis.
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Thursday 16 February 2012
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