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Financial Report: Pfizer

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Pfizer

1Q Revenues: $12.5 billion (+6%)

1Q Earnings: $3.4 billion (-16%)

Comments: Worldwide pharmaceutical revenues grew 5% in the quarter to $11.6 billion. Revenue growth was driven by Lipitor, up 8% to $3.4 billion, Celebrex, up 22% to $598 million, and Lyrica, up 106% to $395 million, as well as Geodon, up 18%, Caduet, up 89%, Detrol, up 17%, Zyvox, up 39%, Vfend, up 26%, Viagra, up 11%, Zyrtec, up 10%, and Aromasin, up 33%. Also, revenues for two new products, Chantix/Champix and Sutent reached $162 million and $102 million, respectively. Earnings were impacted by revenue reductions for products that recently lost U.S. exclusivity: Norvasc, down $115 million, Zoloft, down $615 million, and Zithromax, down $112 million. R&D expenses were $1.7 billion in the quarter, up 8%.

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