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Pfizer reports four-billion dollar drop in fourth-quarter profits

The drug manufacturer Pfizer's logo is shown in a stock image.
The drug manufacturer Pfizer's logo is shown in a stock image.

NEW YORK (WKZO) -- Drug company Pfizer is reporting a big drop in profits in the fourth quarter of 2013.

The company reported profits of 2.7-billion dollars for the three months ending December 31st.  That's a decline of just under four-billion dollars from the fourth quarter of 2012.  The drop in profits was blamed on the removal of the nutrition and animal health units from the company's core drug business.

Profit for the quarter was 56 cents a share, which beat many analysts' expectations.

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