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Financial Report: Pfizer

Tax reform results in massive 4Q earnings

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By: Kristin Brooks

Managing Editor, Contract Pharma

Pfizer
4Q Revenues: $13.7 billion (+1%)
4Q Earnings: $12.3 billion (earnings were $775 million 4Q16)
FY Revenues: $52.5 billion (-1%)
FY Earnings: $21.3 billion (earnings were $7.2 billion FY16)
Comments: Innovative Health sales were up 6% in the quarter to $8.2 billion, driven by continued growth from key brands including Eliquis, Xeljanz, Prevenar 13, as well as Lyrica, Ibrance and Chantix/Champix. Eliquis sales were $710 million in the quarter, up 46%. Xeljanz sales were up 47% to $410 million. Prevenar 13 sales were $1.5 billion, up 8%. Lyrica sales were $1.1 billion, up 7%. Ibrance sales were $716 million, up 11%. Chantix sales were up 28% to $21 million. Enbrel sales (Outside the U.S. and Canada) were down 10% to $634 million. Essential Health sales slipped 7% to $5.5 billion. Lipitor sales were up 24% to $574 million. Premarin family sales were flat at $266 million. Norvasc sales were down 3% to $241 million. Celebrex sales were up 15% to $210 million. Lyrica EH sales were down 30% to $25 million. Vfend sales were down 12% to $115 million. PfizerCentreOne sales were $192 million in the quarter, up 8%. Biosimilar sales were $165 million in the quarter, up 80% with Inflectra/Remsima sales accounting for $135 million. The Provision for taxes on income for the quarter and full-year was favorably impacted by tax benefits associated with the enactment of the “Tax Cuts and Jobs Act”, reducing the Federal corporate income tax rate from 35% to 21%. 

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