THE RESULTS: Pfizer's second-quarter net income more than quadrupled, mainly on the sale of its animal health business and a litigation gain. Revenue fell again, however, because of expired patents on its former blockbusters.

THE RESULTS: Pfizer's second-quarter net income more than quadrupled, mainly on the sale of its animal health business and a litigation gain. Revenue fell again, however, because of expired patents on its former blockbusters.

THE NUMBERS: Pfizer Inc., which makes Viagra and pain medicine Celebrex, earned $14.1 billion, or $1.98 per share. Revenue fell 7 percent to $12.97 billion.

THE OUTLOOK: Generic competition is hitting sales of Lipitor, Aricept and Spiriva. And Pfizer faces more patent expirations for drugs with annual sales totaling $3.5 billion to $4 billion each year through 2016.