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Financial Reports: Pfizer

Generic lipitor continues to erode sales

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Pfizer 2Q13

2Q Revenues: $13.0 billion (-7%)

2Q Earnings: $14.1 billion (+333%)*

YTD Revenues: $25.4 billion (-9%)

YTD Earnings: $16.9 billion (+234%)*

Comments: Lipitor sales worldwide dropped nearly $700 million in 2Q13 to $545 million (-55%), while overall pharma revenues fell $1.0 billion (-8%) to $12.1 billion. Lyrica posted a 10% gain to $1.1 billion, while changes in buying patterns led to a 3% drop for Prevnar vaccines ($970 million). New drugs Inlyta and Xalkori posted revenues of $71 million and $67 million, respectively. In its first quarter, Xeljanz reported $22 million in sales. The Pfizer CentreSource unit, which provides contract manufacturing and bulk pharma chemical sales, posted revenues of $63 million in the quarter, up 5%. PCS revenues for YTD are $116 million (+3%)

* Earnings include $10.5 billion (pre-tax) from spinning off its Zoetis Animal Health business.

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