Pfizer beats Q4 estimates

WASHINGTON / Pfizer Inc., the world’s largest drugmaker, on Tuesday reported earnings that beat analysts’ estimates as the company’s non-pharmaceutical units and cost cutting overcame losses from generic competition to its bestseller Lipitor.

Fourth-quarter earnings excluding some items were 50 cents US a share, beating by three cents US estimate by analysts. Net income fell 50 per cent from a year earlier to $1.44 billion US, or 19 cents US a share, after the New York-based company lost patent exclusivity for the cholesterol pill Lipitor, Pfizer said in a statement.