Drugmaker Pfizer posts 19 pct drop in 3Q profit due to generic competition, higher costs

  • by: LINDA A. JOHNSON , Associated Press
  • Updated: October 29, 2013 - 9:40 AM

Pfizer Inc.'s third-quarter profit dropped 19 percent as competition from generic drugs continued to cut sales, while lower operating expenses failed to offset higher taxes and charges.

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