Pharmaceutical giant Pfizer (NYSE: PFE ) recently reported its third-quarter earnings, posting decent bottom-line growth on a slight top-line decline. Shares of Pfizer barely budged after its earnings report, although the stock remains up more than 20% over the past 12 months and currently sits near its 52-week high.
The story of Pfizer is a well known one -- for several years it rode high on the success of Lipitor, its blockbuster cholesterol drug that once had peak sales of $13 billion. When Lipitor's patent expired in 2011, it left a gaping hole. PFE.
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