Business

Generics Eat Into Pfizer's Sales

Pfizer's quarterly revenue fell as generic competition over blockbuster drugs like Viagra cut into sales. And the world's largest drug maker cut its revenue outlook for the full year because it foresees further generic competition eating into another big seller, its $3 billion anti-arthritis drug, Celebrex. It had lost a court ruling that now makes it possible for generic makers like Teva and Mylan to launch their versions in December.

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