Pfizer reports lower earnings as COVID-19 hits revenues

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Pfizer posts a 71% drop in profit to $2.2 billion in July-September 2020, as the coronavirus disrupts regular healthcare patterns.

Pfizer reported lower 3rd quarter profits on Tuesday, October 27, as COVID-19 dented demand for some medicines from patients whose regular healthcare patterns were disrupted.

The company saw an 11% drop in its hospital business in emerging markets, primarily due to fewer elective surgeries in China and shorter in-patient hospital stays in the country.

 

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