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Jump to full article: Reuters, 2008-07-23
Author: Ransdell Pierson
Intro: Pfizer Inc (PFE.N) on Wednesday said quarterly earnings more than doubled on higher sales of its prescription drugs and lower expenses, but its Chantix quit-smoking drug lost more than a third of its U.S. sales amid safety concerns. . . .
The company's U.S. sales fell 2 percent in the quarter, hurt by waning demand for Chantix, a medicine approved in mid-2006 that Pfizer had been counting on to help drive earnings growth in coming years. But the company in January said the drug would begin carrying a warning that it may cause agitation, depression and suicidal behavior, raising doubts about its future growth prospects.
Global sales of Chantix, sold as Champix overseas, rose 3 percent to $207 million, but plunged 35 percent to $109 million in the United States.
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