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Pfizer beats forecasts, helped by cost cuts


    (Reuters) - Pfizer Inc reported higher-than-expected quarterly earnings, helped by cuts in research spending and other costs, and the company affirmed its 2012 profit forecast despite the negative impact of the stronger dollar.

    The largest U.S. drugmaker said on Tuesday that it had earned $3.25 billion, or 43 cents per share, in the second quarter. That compared with $2.61 billion, or 33 cents per share, a year earlier.

    Company revenue fell 9 percent to $15.06 billion, hurt by generic competition against Pfizer's Lipitor cholesterol fighter, but topped Wall Street expectations of $14.87 billion.

    (Reporting by Ransdell Pierson in New York; Editing by Lisa Von Ahn)