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Good News - - Drug Company Profits Drop & Rises

Three years ago Pfizer purchased Warner Lambert to become the number one drug company in the world. Drug companies have been taking a financial hit for some time now. Yesterday Pfizer announced that their net income fell 79 percent to $602 million, or eight cents a share, in the fourth quarter from $2.86 billion, or 46 cents a share, in the year-ago period. The earnings decline was due mainly to $1.6 billion, or 22 cents a share, in accounting adjustments related to its purchase of Pharmacia...

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