Market Currents
Major drug firms have been telling investors they'll offset patent expirations with...
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Monday, August 20, 2012, 8:06 AM ETMajor drug firms have been telling investors they'll offset patent expirations with emerging-market growth, although they may be overambitious. Cooling economies and local competition have weakened prospects for the multinationals, with E&Y calculating a $47B difference between companies' sales expectations and what they'll actually earn. Eli Lilly (LLY) and Pfizer (PFE) are among those affected.
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