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Financial Report: Pfizer 1Q

Lipitor competition leads revenues, earnings down

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Pfizer 1Q

1Q Revenues: $15.4 billion (-7%)

1Q Earnings: $1.8 billion (-19%)

Comments: U.S. revenues dropped 15% to $8.0 billion, in the first full quarter after Lipitor lost patent protection. Lipitor sales dropped 42% in the quarter to $1.4 billion. Primary Care revenues fell 25% to $4.1 billion, Specialty Care dropped 9% to $3.6 billion, Established Products rose 18% to $2.8 billion (Lipitor was moved from Primary to Established), Emerging Markets rose 6% to $2.3 billion, and Oncology dropped 7% to $288 million. Growth was driven by Lyrica, Enbrel, Premarin and Celebrex. Lyrica sales rose 16% to $955 million.

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