Pfizer posts 9% fall in fourth-quarter revenue

Pfizer posts 9% fall in fourth-quarter revenue

FILE PHOTO: A man enters the employee entrance of the Pfizer World Headquarters building in the Manhattan borough of New York, U.S., November 23, 2015. REUTERS/Brendan McDermid/Files

(Reuters) – Pfizer Inc (PFE.N) reported a 9% drop in fourth-quarter revenue, hurt by intense competition for its pain treatment Lyrica that lost patent protection last year.

Revenue at the company, which is set to spin off its off-patent branded drugs business and combine it with generic drugmaker Mylan NV (MYL.O), fell to $12.69 billion from $13.98 billion a year earlier.

Net loss attributable to Pfizer narrowed to $337 million, or 6 cents per share, in the quarter, from $394 million, or 7 cents per share, a year earlier.

Reporting by Saumya Sibi Joseph and Tamara Mathias in Bengaluru; Editing by Arun Koyyur

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