Novartis AG Overtakes Pfizer Inc. As Top Drug Company

A robust sales year for three of Novartis Corp.’s medications allowed the firm to pass reeling Pfizer Inc. for the top spot on Modern Healthcare’s annual list of largest publicly traded pharmaceutical companies. Pfizer, its sales still tumbling from the loss of patent protection on its blockbuster cholesterol-lowering drug Lipitor, saw its sales decline to $51.6 billion last year, down 5.6 percent from 2012. Lipitor sales fell to $2.3 billion in 2013, down 41 percent from $3.9 billion in 2012 and down 76 percent from $9.6 billion in 2011.

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