Could not happen to a nicer company - Pfizer

[question everything]

http://news.yahoo.com/s/nm/20051020/bs_nm/pfizer_earns_dc_6

Reuters
Pfizer profit halves as sales slide

NEW YORK (Reuters) - Pfizer Inc. on Thursday reported a 52 percent drop in third-quarter profit and withdrew its financial outlook through 2007 due to tumbling sales of its Celebrex arthritis drug and generic competition for other medicines, sending shares to an eight-year low.

The world's largest drugmaker also said it expects 2005 earnings to fall as much as 9.4 percent, a decline steeper than its earlier forecast.

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We are small investors and used to own some shares (100) in Pfizer. Two years ago, I was driving listening to the news and heard that Pfizer was going to retaliate against Canadian pharmaceuticals that shipped its products back to the state.

I was so mad, that when I came home I sold these shares (replaced with the generic makers Teva).

I doubt that the report has anything to do with its action still, I do feel some satisfaction.

[Skidmore]

1. They'll use it as an excuse to up the prices of the

other drugs they manufacture.

So they think retaliating against Canadian pharmaceutical lessens their responsibility for creating and marketing a bad product? What are they punishing the Candians for anyway? It sounds as though Pfizer knew it had a bad product and was trying to dump it on foreign markets.

[hogwyld]

2. Any country with national healthcare

Should employ generics as a cost saving measure. Why should Canada pay an overinflated price for Viagra, when they can manufacture a generic substitute for a fraction of the cost. The taxpayers save money while still getting the meds they need. Tell pfizer to kiss their A**!

[question everything]

4. If you carry health insurance that covers also drugs

you would know that the only way to benefit from it is to use generics. Which is interesting as far as the Medicare plan goes that gives no bid contracts to the drug manufacturers: does Medicare purchase the brand or the generic?

And.. Viagra may still be protected by patent, it is for 17 years. And while China may reverse engineer it to make copies, most countries do honor the U.S. patents.

[hogwyld]

5. Screw the patent!

They shouldn't keep people from affordable medications because of some stupid patent! Besides being wrong, taxpayers deserve the cheapest treatment available. Did you know that the current use of Viagra was discovered by accident? It was originally developed to treat baldness.

[jackster]

3. as an employee in the healthcare/pharm field,

Pfizer is not even well liked within it's own realm. Everyone knows how dirty and underhanded they are.