BOUNCING BACK: Pfizer overcame the expected sales plunge from worsening generic competition to cholesterol blockbuster Lipitor, thanks to lower charges and reduced spending on production, research and administration.
THE NUMBERS: Net income jumped 25 percent to $3.25 billion, or 43 cents per share. Adjusted earnings were $4.67 billion, or 62 cents per share — 8 cents higher than expected. Revenue fell 9 percent to $15.06 billion.
COMING UP: Pfizer expects to sell its nutrition business for $11.85 billion by 2013's first half, and to register by mid-August for a potential IPO of up to 20 percent of its animal health business.