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Pfizer (PFE)

Pfizer Profit Up, Sales Slide

Pfizer Inc. on Tuesday posted a higher third-quarter profit despite the recession, as sharp cost cuts made up for a dip in sales.
The maker of cholesterol fighter Lipitor, impotence treatment Viagra and smoking cessation drug Chantix slashed costs on everything from manufacturing and marketing to research and development to produce a profit of $2.88 billion. That was up 26 percent from $2.28 billion a year earlie

Oct 20 · 12:24:00 PM · Source: AP
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by Larry Etter

Pfizer (PFE)

Pfizer To Close Wyeth Deal Tomorrow After Approval

Pfizer Inc. has won U.S. and Canadian regulatory approval for its $68 billion acquisition of Wyeth. The companies plan on closing the deal tomorrow. Pfizer won U.S. clearance after agreeing to sell half of Wyeth’s animal health business to Boehringer Ingelheim GmbH within 10 days of the acquisition’s closing, the Federal Trade Commission said today in a statement.
Pfizer agreed in January to buy Wyeth in a stock-cash transaction that would give it access to the depression treatment Effexor and pneumonia vaccine Prevnar.

Oct 14 · 2:13:00 PM · Source: Bloomberg · Related: Wyeth
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by Larry Etter

Abbott Labs (ABT)

Abbott Beats Expectations and Boosts '09 Forecast

Abbott Laboratories (ABT) reported a 36% increase in third-quarter profit, exceeding Wall Street expectations. The company also also boosted its financial forecast for 2009. The company's Q3 profit was boosted by higher sales of nutritional products and heart devices and accelerating sales growth for its top drug, arthritis treatment Humira.
Abbott's good news was another factor in the Dow Jones heading to 10,000.

Oct 14 · 11:36:00 AM · Source: Dow Jones News Wire
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by Larry Etter

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