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Pfizer slips 17 spots this year, in large part because of the expiration last year of one of its more lucrative patents, for the fibromyalgia drug Lyrica. That eroded the drugmaker's revenue, which fell 4% overall in 2019. But Pfizer also made some big moves: After years of rumors that it would split up, Pfizer finally slimmed down, announcing over the summer that it would merge Upjohn, its off-patent drug division, with general drug company Mylan. Meanwhile, the pharmaceutical giant found some significant efficiencies in its operations: profits surged some 46%. The company, which is developing a promising COVID-19 vaccine in partnership with German drug company BioNTech, in July announced the U.S. government had ordered $1.95 billion worth of doses of the new treatment—to provide it to Americans for free, if the FDA approves the vaccine.
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