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Financial Report: Pfizer

Lipitor losses hit 4Q results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Pfizer

4Q Revenues: $16.7 billion (-4%)

4Q Earnings: $1.4 billion (-50%)

FY Revenues: $67.4 billion (+1%)

FY Earnings: $10.0 billion (+21%)

Comments: U.S. revenues in the quarter were $6.3 billion (-12%). International revenues were $10.4 billion in the quarter (+3%). Results in the quarter reflect an operational decline of $765 million (-5%) and the favorable impact of foreign exchange of $157 million (+1%). Biopharmaceutical revenue was $14.1 billion in the quarter (-6%). Primary Care revenues were $5.4 billion (-8%), impacted by the loss of exclusivity of Lipitor and Caduet in the U.S. Specialty Care revenues were $3.8 billion (-5%), impacted by the loss of exclusivity of Vfend and Xalatan in the U.S. Established Products revenues were $2.3 billion (-5%), impacted by the loss of exclusivity of Effexor XR, Protonix and Zosyn in the U.S. Restructuring charges were $108 million in the quarter and $1.6 billion for the year.

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