Pfizer reports Viagra slump

DRUG giant Pfizer has reported a steep fall in Viagra sales amid heavy competition from rival impotence treatments.

The news came as the world’s largest drug maker said first-quarter profits had halved to £1.3 billion, despite a 47 per cent jump in overall revenues to £7bn.

Sales of cholesterol fighter Lipitor, the world’s top-selling drug, rose 19 per cent to £1.4bn, while Norvasc, the world’s best-selling drug for high blood pressure, saw sales rise 16 per cent to £636 million.

But sales of Viagra declined 12 per cent to £232m on the back of competition from GlaxoSmith-Kline’s Levitra and Eli Lilly’s Cialis.