Pfizer earnings plunge 52% as sales fall

PFIZER, the world’s biggest drugmaker, said third-quarter earnings plunged 52% on lower sales of its Celebrex painkiller and Neurontin epilepsy drug.

Shares posted their biggest decline this year.

Net income declined to $1.59 billion (€1.33bn) after acquisition costs from $3.34bn (€2.78bn) a year earlier, the New York-based company said.