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News Summary: Pfizer 2Q net income jumps 25 pct

July 31, 2012 | Modified: July 31, 2012 at 4:47 pm
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Photo - FILE- In this Thursday, July 12, 2012, file photo, Centrum multivitamins are shown on the packaging line at the Pfizer plant in Montreal. Pfizer Inc.'s second-quarter net income jumped 25 percent as sharply lower costs for production, marketing and restructuring more than offset a plunge in revenue from cholesterol fighter Lipitor caused by generic competition. The Viagra maker said Tuesday, July 31, 2012, that net income was $3.25 billion, or 43 cents per share, up from $2.61 billion, or 33 cents per share, a year earlier. (AP Photo/The Canadian Press, Graham Hughes, File)
FILE- In this Thursday, July 12, 2012, file photo, Centrum multivitamins are shown on the packaging line at the Pfizer plant in Montreal. Pfizer Inc.'s second-quarter net income jumped 25 percent as sharply lower costs for production, marketing and restructuring more than offset a plunge in revenue from cholesterol fighter Lipitor caused by generic competition. The Viagra maker said Tuesday, July 31, 2012, that net income was $3.25 billion, or 43 cents per share, up from $2.61 billion, or 33 cents per share, a year earlier. (AP Photo/The Canadian Press, Graham Hughes, File)

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.

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