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Financial Report: Pfizer 3Q13

Revenues down 2% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Pfizer

3Q Revenues: $12.6 billion (-2%)

3Q Earnings: $2.6 billion (-19%)

YTD Revenues: $38.0 billion (-7%)

YTD Earnings: $19.4 billion (earnings were $8.3 billion YTD13)

Comments: Specialty Care revenues were $3.3 billion in the quarter, down 2%, primarily due to the shift in the reporting of Geodon and Revatio revenues in the U.S. and Xalabrands revenues (-23% to $140 million). Primary Care revenues were down 10% to $3.3 billion and Established Products sales were down 4% to $2.3 billion, primarily due to continued erosion for Lipitor (-29% to $533 million), ongoing expiration of the Spiriva collaboration in certain countries, and decreased government purchases of Prevnar and Enbrel in certain markets. Lyrica sales were up 10% to $1.1 billion, and Celebrex grew 11% to $752 million. Enbrel sales were $932 million, up 4%. Chantix sales were up 5% to $154 million. Oncology sales were up 24% to $407 million, driven by performance of new products, primarily Inlyta (+186% to $83 million) and Xalkori (+92% to $73 million). Emerging Markets revenue was up 2% to $2.4 billion, primarily due to volume growth in China. Consumer Healthcare sales were up 1% to $788 million.

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