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Pfizer Inc. (PFE) Banking on New Cancer Drugs


10/30/2013 7:04:25 AM

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The growing use of two relatively new oncology products in Pfizer Inc.'s pipeline helped the drug giant turn in a respectable third-quarter performance, according to a financial report released Tuesday.

The products, Xalkori and Inlyta, were both discovered at Pfizer laboratories in La Jolla, Calif., and developed in Groton. Sales of Inlyta in the third quarter nearly tripled from a year ago, while Xalkori saw a near doubling of revenue, sending Pfizer's oncology unit to a 26 percent operational gain during the period.

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