Pfizer Inc. reported that its fourth-quarter profit fell by half due to higher costs for production, administration and restructuring, yet the world's second-biggest drugmaker topped Wall Street expectations.
The New York-based company's revenue rose by 7 percent, ending a long stretch of declining sales due to generic competition to one-time blockbusters.
Pfizer benefited from growing sales of its newest products, as well as the additional of injectable medicines made by Hospira, which it acquired last September.
The maker of Viagra and pain treatment Lyrica said on Tuesday that net income was $613 million, or 10 cents, per share.
A year earlier, its net income was $1.23 billion, or 19 cents per share.