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Financial Report: Pfizer

Revenue growth of key brands offset by acquisitions

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By: Kristin Brooks

Managing Editor, Contract Pharma

Pfizer

3Q Revenues: $13.0 billion (+8%)

3Q Earnings: $1.3 billion (-38%)

YTD Revenues: $39.2 billion (+13%)

YTD Earnings: $6.4 billion (-11%)

Comments: Pfizer Innovative Health revenues (formerly the Innovative Products business) were $7.3 billion in the quarter, up 9% driven by growth from key brands including Ibrance, primarily in the U.S., Eliquis globally, as well as Xeljanz, Lyrica and Chantix/Champix,primarily in the U.S.  Ibrance sales were $550 million in the quarter. Eliquis sales were up 92%. Xeljanz sales were $235 million, up 85%. Lyrica sales were $1.0 billion, up 11%. Chantix/Champix sales were $198 million, up 24%. Global Prevnar/Prevenar 13 revenues were $1.5 billion, down 3%. Viagra sales were down 11% to $297 million. Essential Health revenues(formerly the Established Products business) were $5.7 billion in the quarter, up 7% primarily due to the inclusion of legacy Hospira operations, partially offset by the loss of exclusivity and generic competition for certain Peri-LOE products, primarily Lyrica, down 30% to $191 million, and Zyvox, down 43% to $94 million. Biosimilar sales in the quarter were $83 million. Results include legacy Hospira global operations. In the quarter, the company incurred an impairment charge as a result of the pending Hospira Infusion Systems transaction. Pfizer acquired Anacor Pharmaceuticals in June 2016 for approximately $5.2 billion, and Medivation in September 2016 for approximately $14 billion.

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