Pfizer Posts 2% Slide in Quarterly Revenue

Pfizer

Giant medical and healthcare company, Pfizer Inc (PFE.N) posted a nearly 2 percent drop in quarterly revenue on Tuesday, August 1.

This fall was driven by lower demand for its rheumatoid arthritis treatment Enbrel and pneumonia vaccine Prevnar.

Revenue fell to $12.9 billion from $13.15 billion in the second quarter, Reuters reports.

Net income attributable to the largest U.S. drugmaker rose to $3.07 billion, or 51 cents per share, from $2.05 billion, or 33 cents per share, a year earlier.