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Financial Report: Pfizer 1Q

Biopharmaceutical revenues were $14.5 billion in the quarter, up 44%. Established product sales were $2.9 billion in the quarter (+73%).

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By: Tim Wright

Editor-in-Chief, Contract Pharma

1Q Revenues: $16.8 billion (+54%)
1Q Earnings: $2.0 billion (-26%)
Comments: Biopharmaceutical revenues were $14.5 billion in the quarter, up 44%. Established product sales were $2.9 billion (+73%). Lipitor sales were $2.8 billion (+1%). Lyrica sales were $723 million (+6%). Celebrex sales were $528 million (+1%). Norvasc sales were $368 million (-23%) due to generic competition. Viagra sales were $479 million (+5%). Sutent sales were up 28% to $259 million. Enbrel sales (Outside the U.S. and Canada) were $802 million. Effexor sales were $716 million. Prevnar sales were $520 million in the quarter. R&D expenses were up 31% to $2.2 billion. Restructuring charges attributed to the Wyeth acquisition were $489 million and total acquisition-related costs were $573 million in the quarter. Operational revenues increased $3.8 billion, or 38%, which included $4.1 billion, or 41% attributable to legacy Wyeth products. Revenues were unfavorably impacted by $137 million, or 1%, due to legacy Pfizer products.

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