Lipitor breaks $10 billion annual sales mark
pharmafile | January 21, 2005 | News story | Sales and Marketing |
Pfizer's blockbuster statin Lipitor scaled new sales heights in 2004, becoming the first pharma product to make more than $10 billion in annual sales.
Revenues from the company's star performer, the most prescribed product in the world, reached $10.9 billion in 2004 and, along with Cox-II inhibitors, Celebrex and Bextra, led a strong fourth quarter performance.
Pfizer's fourth quarter revenues grew by 7% to $14.9 billion, compared with the same period in 2003, with net income reaching $2.8 billion, including items such as merger-related costs.
Full year revenue increased by 17% to $52.5 billion, on which the company showed profits of $11.4 billion.
Cox-IIs Celebrex and Bextra had a strong quarter with worldwide sales increasing by 24% to $1 billion and 57% to $417 million respectively.
Both products could have a challenging future, however, after being linked to the side-effect problems that saw Celebrex's rival, MSD's Vioxx, taken off the market in September. Pfizer's two pain drugs face an ongoing European review of their cardiovascular safety, as well as an FDA Advisory Committee hearing in February.
Pharmaceutical sales from the company's Human Health business were up by 6% for the fourth quarter to $13.1 billion.
Pfizer also suffered from the recent introduction of generic competition to Neurontin, Diflucan and Accupril. Generic competitors to Neurontin were launched in the period from Ivax, Alpharma and Teva in the US and Pfizer saw fourth quarter sales from the product fall by 39% to $481 million.
Another of the company's best-sellers, the hypertension drug Istin, known as Norvasc in the US, could only manage a 1% sales increase in the fourth quarter to $1.3 billion, ahead of its 2007 patent expiry. The year also saw Pfizer launch Caduet, a new drug that combines Istin with Lipitor.
Pfizer chief executive Hank McKinnell said: "These are challenging times for our company and our industry, and the years 2005-2007 represent a critical period for Pfizer."
Pfizer currently has four products under review for approval by the FDA, including Revatio, the new brand name for Viagra (sildenafil) when it is marketed as a treatment for pulmonary arterial hypertension.
The sales record of the world's largest pharmaceutical company continues to impress. Pfizer currently markets 15 products that lead their respective therapeutic areas, including five of the world's top 25 medicines and ten blockbusters.
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