Business & Tech
Pfizer Stock Price Drops
The company recently announced more layoffs at its Pearl River plant — or what is left of it.
Higher expenses offset a big jump in sales from an acquisition, as Pfizer Inc.'s second-quarter profit plunged 23 percent.
However, the biggest U.S. drugmaker still beat Wall Street's EPS expectations of $0.62 by 2 cents.
The company has announced more layoffs at what is left of its Pearl River campus. They'll happen before the end of October.
The Wall Street Journal reported that Pfizer officials are still trying to decide whether to break up into two businesses.
RELATED: Pfizer Announces More Layoffs
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