Steadily climbing sales of the cholesterol drug Lipitor helped Pfizer complete an excellent second quarter this year. The drug giant said net profit was up 20 percent, a figure which beat analyst expectations. Pfizer reports demand for Lipitor is up 21 percent, with sales hitting $2.86 billion. Unfortunately, the good cheer may not last. Today there is a follow-up story likely to create problems for the company. A report in the New England Journal of Medicine raises serious questions about the drug's safety for patients being treated for diabetes. A company-sponsored study of 1,2000 patients showed the statin more than doubled the risk of stroke in patients being treated for the condition.
- see this story from The New York Times
- see this story from The Washington Post