Pfizer Inc.: The New York-based drug maker’s...

Pfizer Inc.: The New York-based drug maker’s 1989 income slipped 8% from 1988 to $727.3 million. Sales rose 5% to $5.67 billion. Fourth-quarter income fell 6% to $133.3 million as sales rose 9% to $1.49 billion. The company attributed the results to the continued strengthening of the U.S. dollar, which cut fourth-quarter sales by 2 percentage points, high marketing expenses to support the launches of several new products and continued strong investment in its research pipelines. The year-to-year comparison was also negatively affected by about $35 million in one-time gains reported in 1988.

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