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Pfizer 2Q Revenues Drop 54%

Primary Care revenues were down 72% primarily due to the drop in global Paxlovid and Comirnaty revenues.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Pfizer
2Q Revenues: $12.7 billion (-54%)
2Q Earnings: $2.3 billion (-77%)
YTD Revenues: $31.0 billion (-42%)
YTD Earnings: $7.9 billion (-56%)
Comments: Primary Care revenues were down 72% to $5.8 billion in the quarter, reflecting an operational decline of $14.7 billion, or 53%, primarily due to the drop in global Paxlovid and Comirnaty revenues. Revenues from Comirnaty and Paxlovid were $1.6 billion, down 82% and 98%, respectively. Recently acquired products, Nurtec ODT/Vydura and Oxbryta, contributed $247 million and $77 million in global revenues.
 
Specialty Care sales were up 12% to $3.65 billion. Global Vyndaqel sales were up 40% to $262 million, driven by continued strong uptake of the transthyretin amyloid cardiomyopathy (ATTR-CM) indication. Inflectra sales were down 46% to $74 million, primarily due to lower net price as a result of unfavorable changes in channel mix.  
 
Oncology revenues were down 3% to $2.96 billion with Ibrance sales down 6% to $1.2 billion driven by lower demand globally due to competition.
 
Pfizer CentreOne revenues were down 4% to $306 million.

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