Pfizer, the world’s largest pharmaceutical company by revenues, said on Tuesday that its second-quarter profits rose on the strength of its animal health business and pain medicine sales. Net income rose 5 per cent to $2.6bn, or 33 cents a share, up from $2.45bn, or 31 cents, in the same period a year ago. That was in line with Wall Street analysts’ expectations, but Pfizer’s shares slipped 0.68 per cent to $18.88 in pre-market trading on Tuesday. Revenues fell 1 per cent to $16.98bn due to weak pharmaceutical sales resulting from several of its best-selling drugs facing generic competition.
