Rank: 40 (Previous rank: 31)
CEO: Ian C. Read
Was this company a 2011 top stock?
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Pfizer took some hard hits in 2011. In November, the company's leading cholesterol drug, Lipitor, lost its patent protection, causing sales of the drug to drop 42% in the U.S. compared to the previous year, according to the company's Q4 earnings report. The company ended the year in a rough spot, with fourth quarter earnings dropping nearly 50% from 2010. Last summer, Pfizer announced that it is looking to sell some of its more profitable units, including its infant nutrition and animal health businesses, as part of an effort to turn more of the company's attention toward new drug development. The company recently announced that it will sell its infant nutrition unit to Nestle for $11.9 billion.