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Earnings slip: Upjohn Co. said Monday second-quarter profits declined 4 percent, mostly from competition of generic drugs. Sales of Kalamazoo, Mich.-based Upjohn’s new drugs, including the contraceptive Depo-Provera, helped offset the plunging sales of anti-anxiety drug Xanax, sleep medication Halcion and hair-loss treatment Rogaine, the company said. Second-quarter earnings were $120 million, or 67 cents a share, compared with $125 million, or 70 cents a share, a year earlier. Sales dropped to $891 million from $895 million.
