Pfizer profit beats forecast

Pfizer yesterday reported profit that beat analysts’ estimates after sales of Lyrica, a pain drug, and Ibrance, a breast cancer treatment, outperformed expectations. The company also raised its 2015 sales and profit outlook.

Adjusted earnings of 60 cents a share topped the average analyst estimate of 51 cents. Revenue dropped 2.2% to $12.1 billion (€10.9bn), the New York-based drug maker said in a statement yesterday.

Pfizer is looking for its next big hit after the expiration of patents on blockbusters including cholesterol treatment Lipitor and arthritis drug Celebrex.