Pfizer results beat estimates

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Tuesday, July 29, 2014

WSJ: The pharmaceutical giant posted earnings of $2.91 billion, or 45 cents per share.

Revenue decreased 1.5% to $12.77 billion, hurt by foreign currency changes and the expiration of the co-promotion term for Enbrel, a psoriasis and rheumatoid arthritis drug.

Analysts had projected per-share earnings of 57 cents and revenue of $12.47 billion.

Research and development spending rose 13% to $1.71 billion.

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