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Pfizer cuts forecasts as generics threats become reality

...Caduet, which combines Lipitor with Norvasc (amlodipine), leapt 89% to $146 million.However it is the sales of Norvasc on its own, still Pfizer's second bestseller, which is causing concern.

They fell 10% to just under $1.1 billion, but the damage will be a lot more severe in the coming months as generic versions of the drug become more widely available.

Copycat competition is already hurting Zoloft (sertraline) and sales crashed 81% to $779 million.Exubera continues to disappointPfizer has reduced its full-year revenue estimates by $1.2 billion to $47-$48 million to reflect the loss of patent exclusivity for Norvasc, which came six months earlier than expected, and has adjusted its earnings forecast to $2.08-$2.15 per share, down from $2.18-$2.25.

Chief executive Jeffrey Kindler also noted that "the disappointing revenue performance" of Exubera (inhaled insulin) for diabetes is continuing and the firm will get more deeply involved in the more extensive market-development activities we now beli...

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