Pfizer reports jump in profits

July 23, 2008 - 8:26 PM

WEST MICHIGAN (NEWSCHANNEL 3) - Good news for Pfizer on Wednesday.

 

The world's largest drug maker reported a large jump in profits for the second quarter, nearly double from 2007.

 

Pfizer earned $2.78 billion in the second quarter on higher sales and lower expenses.

 

Pfizer said it would have done even better if not for it's struggling anti-smoking drug Chantix.

 

Pfizer expects its earnings to keep growing in 2008 with recent cost-cutting and layoffs.