Pfizer Inc reported a bigger-than-expected quarterly profit, benefiting from strong demand for its newer drugs.
Shares of the largest U.S. drugmaker were up 1.7 percent in premarket trade on Tuesday.
Pfizer`s net income rose to $2.84 billion, or 47 cents per share, in the third quarter, from $1.36 billion, or 22 cents per share, a year earlier.
Excluding one-time items, Pfizer earned 67 cents per share in the quarter, above the average analysts` estimate of 64 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose to $13.17 billion from $13.05 billion. Sales of Pfizer`s breast cancer treatment, Ibrance, surged nearly 60 percent to $878 million.
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