Credit: REUTERS/Carlo AllegriAdds details on sales, background
Oct 27 (Reuters) - Pfizer Inc PFE.N on Tuesday reported a 4.3% drop in third-quarter sales, hurt by increased competition for its off-patent pain drug Lyrica and lower demand for some of its treatments during the COVID-19 pandemic.
In the third quarter, Pfizer said Lyrica sales fell 33% to $352 million. Total sales fell to $12.13 billion from $12.68 billion a year ago.
As the COVID-19 pandemic crimps demand for certain Pfizer therapies and damages global economies, investors are keenly focused on seeing late-stage study data of the vaccine candididate being developed by Pfizer and German partner BioNTech SE 22UAy.F.
FACTBOX-COVID-19 vaccine frontrunners
FACTBOX-The race for a coronavirus vaccine
FACTBOX-Drugmakers rush to develop COVID-19 treatments
(Reporting by Manas Mishra in Bengaluru; Editing by Bernard Orr)
((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
