Prevnar and Lyrica lift Pfizer results
pharmafile | November 1, 2011 | News story | Research and Development, Sales and Marketing | Lipitor, Lyrica, Pfizer, Prevnar, patent expiry
Strong sales of Lyrica and its Prevnar vaccines coupled with favourable exchange rates have helped Pfizer deliver a strong quarter.
Its total sales for the third quarter were up 7% compared to a year ago as income reached $17.2 billion.
The majority of this increase came from favourable exchange rates, but 1% of its growth stemmed from core products.
This includes childhood vaccine Prevnar/Prevenar 13 that was up 35%, spurred on from impressive growth in emerging markets.
Its pain drug Lyrica also saw strong gains on last year as operational sales increased 19% to $961 million for the quarter.
Patent expiries took a bite out of revenues however, with the biggest loss coming from a 40% drop in sales of eye drug Xalatan after the generic rivals became available in March.
Ian Read, president and chief executive of Pfizer said: “Overall, I am very pleased with our financial performance, despite the impact of product losses of exclusivity totaling approximately $950 million this quarter and the challenges posed by current global market and economic conditions.”
But Pfizer is now counting down the days to the US patent expiry of Lipitor later this month, which will decimate its revenues. Patents for the drug will expire across Europe early next year, adding to the woe.
Analysts at EvaluatePharma forecast the loss of the $12 billion a year from Lipitor will knock Pfizer of its perch as the biggest drug maker by revenue.
Sanofi is predicted to take the top spot next year, with Pfizer relegated to third place.
Sales of Lipitor have been declining throughout 2011, and were down 2% compared to 2010, with this loss primarily coming from international markets.
But Read says the firm is ‘well prepared’ for the loss of Lipitor and believes Pfizer’s pipeline can soften the blow.
Anticoagulant Eliquis for stroke prevention in patients with atrial fibrillation is ready for launch, while tofacitinib (rheumatoid arthritis) and axitinib (advanced renal cell carcinoma) and recently launched lung cancer drug Xalkori (crizotinib) are all expected to be major products.
Ben Adams
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