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Financial Report: Pfizer

Revenues down 4% in the quarter to $12.1 billion.

By: Contract Pharma

Contract Pharma Staff

Pfizer

3Q Revenues: $12.1 billion (-4%)

3Q Earnings: $2.2 billion (-71%)

YTD Revenues: $36.0 billion (-8%)

YTD Earnings: $9.0 billion (-46%)

Comments: Biopharma revenues were $10.2 billion in the quarter, up 3%, primarily driven by the performance of Vyndaqel/Vyndamax, growth from the Biosimilars portfolio, as well as continued strength from key brands including: Eliquis, Ibrance, Xeljanz, Inlyta and Xtandi. Vyndaqel/Vyndamax global revenues were $351 million, up 125% operationally. Global Eliquis sales were up 9% operationally, International Prevenar 13 sales were up 14% operationally, primarily reflecting continued strong pediatric uptake in China, as well as increased awareness for respiratory illnesses, including pneumococcal disease, due to the COVID-19 pandemic; U.S. sales were down 14% primarily reflecting the unfavorable impact of timing associated with government purchases for the pediatric indication and ACIP recommendation. Ibrance sales in the U.S. were up 9%. Global Xeljanz sales were up 10% operationally. Global Inlyta sales were up 41% operationally. Xtandi in the U.S. was up 18%. International Enbrel sales were down 21% reflecting continued biosimilar competition. Biosimilars global revenues were $424 million, up 80% operationally, primarily driven by recent oncology biosimilar launches of Ruxience (rituximab), Zirabev (bevacizumab) and Trazimera (trastuzumab) in the U.S. and other global markets, as well as continued growth from Retacrit (epoetin zeta), primarily in the U.S. Revenues reflect an operational decline of $444 million, or 4%, as well as the unfavorable impact of foreign exchange of $104 million, or 1%. Third quarter revenues included an estimated unfavorable impact of approximately $500 million, or 4%, due to COVID-19.

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