Pfizer 1Q11

Pfizer 1Q

1Q Revenues: $16.5 billion (flat)

1Q Earnings: $2.2 billion (+10%)

Comments: Revenue figures for 1Q11 include two months of King Pharma revenues (Feb. 1 to March 31, 2011), totaling $224 million. Primary care revenues dropped 7% to $5.4 billion, Speciality Care was up 12% to $3.9 billion, Established Products fell 15% to $2.4 billion, Emerging Markets grew 10% to $2.2 billion, and Oncology was down 14% to $311 million. Primary Care was affected by loss of Lipitor patent protection in Canada and Spain, and Aricept in the U.S. Established Markets was hurt by loss of patent protection for Effexor, Protonix and Zosyn. Lipitor sales dropped 13% to $2.4 billion in the quarter, Lyrica sales rose 14% to $826 million, Celebrex posted 4% growth to $591 million, and Enbrel gained 8% to $870 million. Effexor revenues dropped 72% to $204 million.