Mubasher: Pfizer on Tuesday said that its net income soared by 87% year-on-year in the third quarter of 2019, but its revenues dropped by 5%.

Pfizer’s net income was $7.68 billion in Q3-19, compared with $4.11 billion in Q31-18, with diluted earnings per share (EPS) declining to $1.36 from $0.69.

The US pharmaceutical major produced $12.68 billion in the period between July and September, down from $13.29 billion in the year-earlier period.

Sales in its biopharmaceutical segment rose by 7% to $10.11 billion, thanks to higher sales of its Ibrance, Xeljanz, Eliquis, Vyndaqel and Inlyta brands, while its sales in its international markets rose, Pfizer said.

The drug maker expected that its full-year revenue to range between $51.2 billion and $52.2 billion, compared with the previously estimated outlook of between $50.5 billion and $52.5 billion.