Pfizer (NYSE: PFE), the world’s largest drug maker, reported second quarter profit that beat analysts estimates, as sales of pain medicines offset lower revenue from expired patents. [Health Care ETFs Lead Second Quarter as Commodities Decline]
The drug company is working on an over-the-counter version of Lipitor as the patent set to expire in November. Pfizer is the second-largest holding in the healthcare ETF at 11.4% of the portfolio. [Health Care, Pharma ETFs Hit by Pfizer Decline]
Health Care Select Sector SPDR Fund
Tisha Guerrero contributed to this article.