Pfizer has posted lower revenue during the first quarter ended March 2015. This is due to the loss of exclusivity and immediate multi-source generic competition for Celebrex in the US and termination of the Spiriva co-promotion collaboration in certain countries. Its revenue reduced by 4.3 per cent to USD10,864 million from USD11,353 million in the corresponding period of last year. Pfizer net profit improved marginally by 2 per cent to USD2,376 million from USD2,329 million.
The company is running two distinct businesses viz., an innovative products business and an established products businesses. The innovative products business is composed of two operating segments like the global innovative pharmaceutical (GIP) segment and the global vaccines, oncology and consumer healthcare (VOC) segment. The established products business consists of the global established pharmaceutical (GEP) segment.
The sales of GEP declined by 16.3 per cent to USD5,014 million from USD5,990 million in the same period of last year. However, the sales of innovative products imcreased by 9.3 per cent to USD5,738 million from USD5,250 million. The sales of global vaccines improved sharply by 43.6 per cent to USD1,328 million from USD925 million. GIP sales remained almost still at USD3,075 million. Global oncology sale moved up by 8.2 per cent to USD528 million from USD488 million.
Certain products like Prevnar 13, Eliquis, Lyrica, Nexium 24HR, Xeljanz and Viagra achieved higher sales in US. Additionally, revenues in emerging markets increased by 12 per cent operationally. Revenue for Lipitor in developed markets declined as a result of continued generic competition. Prevenar 13 revenue in the US increased by 80 per cent, primarily driven by continued strong uptake among adults. Its international revenues increased 21 per cent operationally, driven by Prevenar 13.
The R&D expenditure raised by 16.4 per cent to USD1,877 million during the first quarter ended March 2014 from USD1,612 million in the similar period of last year. Selling, marketing and administrative expenditure remained almost same at USD3,078 million.
During the first quarter of 2015, new products delivered strong performances. Prevenar 13 vaccine in older adults shower best result in the US. Ibrance, our recently approved therapy for first-line advanced breast cancer in the US, performed very well following its February launch. Eliquis showed another strong quarter of growth as adoption among cardiologists continues to improve globally.
Hospira actually had a very impressive quarter on the gross margin. This business represents an excellent strategic fit in growing market segments and is expected to accelerate the growth trajectory of our global established pharmaceuticals business.
With strong dollar, it lower its projection for EPS in 2015 to USD1.32 to USD1.47 from previously announced USD1.37 to USD1.52. With the weakening of Euro, full year 2015 revenue is stated between USD44.5 to USD46.5 billion.
Subscribe to PharmaTutor News Alerts by Email >>
Do Not Forget to Verify
(Click on Subscription link in your inbox)
--------
Also Join: 
.png)
