July 18, 2007
By Peter Rost
Reading financial reports is fun. I'm not kidding.
When you get into the nitty gritty detail you discover the stuff the company press release seldom mentions.
Take Pfizer Inc.'s most recent quarterly report, filed today.
Things are going downhill pretty fast, with patent losses happening even faster than expected. It may not be as bad as the 48% drop in quarterly profits indicated, but believe me, it is bad.
Let's for instance look at Pfizer's flagship, Lipitor.