Drug sales spark Pfizer concerns

PHARMA company Pfizer yesterday announced a three per cent fall in prescription drug sales last quarter to $14.64bn (£8.99bn).

The weak dollar, along with other factors, has meant that the company’s performance was worse than had been indicated. Its top-selling cholesterol fighter Lipitor is also under threat from November when its exclusive US patent expires, allowing generic competition to chip away at the market.

The decline in sales was evident in primary care, speciality care and oncology medicines, with only emerging markets enjoying increased sales.