Pfizer slumps as revenue growth slows
US drug giant Pfizer (NYSE: PFE) was down 1.4% in the stock market as Tuesday’s trading entered its final third.
The world’s largest pharma company had earlier reported its third-quarter 2018 financial results, revealing that revenue increased by just 1% compared to the same period in 2017.
The $13.3 billion figure was worse than the $13.53 billion expected by analysts and Pfizer lowered the top end of its full-year sales forecast. It now predicts that this will be between $53 billion and $53.7 billion, compared to the previous $53 billion to $55 billion.
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