Nov 1 (Reuters) - Pfizer Inc reported quarterly revenue well below Wall Street expectations, following the loss of patent protection on its Lipitor cholesterol fighter.
The largest U.S. drugmaker said on Thursday that it had earned $3.21 billion, or 43 cents per share, in the third quarter. That compared with $3.74 billion, or 48 cents per share, in the year-earlier period, when the company recorded a $1.3 billion gain on the sale of its Capsugel business.
Excluding special items, Pfizer earned 53 cents per share. Analysts on average expected 53 cents, according to Thomson Reuters I/B/E/S.
Global sales fell 16 percent to $13.98 billion, well below Wall Street expectations of $14.64 billion.