Pfizer Inc. posted a 25 percent jump in second-quarter net income Tuesday due to aggressive cost cutting and lower restructuring and other charges, shaking off the expected plunge in revenue from generic competition to cholesterol fighter Lipitor, the world’s top-selling drug ever.
Adjusted net income was $4.67 billion, or 62 cents per share – 8 cents more than Wall Street expected. Pfizer stock closed up 33 cents at $24.04. That’s a new 52-week high but still far below the stock’s $48 peak 12 years ago.
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