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Financial Report: Pfizer

Generic competition, termination of Enbrel, Spiriva alliances impact results

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By: Kristin Brooks

Managing Editor, Contract Pharma

Pfizer
 
3Q Revenues: $12.4 billion (-2%)

3Q Earnings: $2.7 billion (+3%)

YTD Revenues: $36.5 billion (-4%)

YTD Earnings: $7.9 billion (-59%)

Comments: Global Established Pharmaceutical revenues were down 6%, primarily due to multi-source generic competition for Detrol LA in the U.S., Viagra in most major European markets, as well as Aricept in Canada. Results were also impacted by ongoing termination of the Spiriva collaboration in certain countries. Global Innovative Pharmaceutical sales were down 4%, primarily due to the expiration of the co-promotion term for Enbrel in the U.S. and Canada, partially offset by strong growth from Lyrica, primarily in the U.S. and Japan, as well as recently launched products, including Eliquis and Xeljanz globally. Global Vaccines, Oncology and Consumer Healthcare revenues increased 13%, driven by Prevnar 13 revenue in the U.S., up 26%. Lyrica sales were up 16% to $1.3 billion. Prevnar sales were up 19% to $1.1 billion. Xeljanz revenue grew 142% to $85 million. Xalkori revenue was up 56% to $112 million. Inlyta revenues in emerging markets increased 9% with strong operational growth from Prevenar as well as Lipitor, primarily in China.

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