Pfizer 3Q Profit Triples due to Charge a Year Ago

NEW YORK – Pfizer Inc. says its third-quarter profit tripled, mainly because a huge charge depressed last year's results.

The world's biggest drugmaker said Tuesday it earned $2.3 billion, or 34 cents per share, the the latest quarter. That's up from $761 million, or 11 cents per share, a year ago.

Its adjusted earnings amounts to 62 cents a share. That is 2 cents a share more than analysts surveyed by Thomson Reuters expected.

It says its revenues slipped to $11.97 billion from $11.99 billion a year ago. Analysts had been expecting revenues of $12.01 billion.

The maker of impotence treatment Viagra says it saw a big drop in U.S. sales of cholesterol fighter Lipitor and some drugs with generic competition, but that other medicines sold well.