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Pfizer’s revenue declines as it faces more biosimilar competition

August 2, 2017

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Pfizer saw its earnings rise and revenue fall in the second quarter thanks to increased biosimilar competition and the divestiture of Hospira Infusion Systems, the company announced Tuesday.

The New York-based company reported earnings of $3.07 billion, or 51 cents per share, up from $2.05 billion, or 33 cents per share, a year earlier. Revenue fell to $12.9 billion on the quarter from $13.15 billion last year, but excluding the impact of the Hospira divestiture, the company says revenue rose 2%.

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