Financial Report: Pfizer

Pfizer
1Q Revenues: $12.0 billion (-8%)
1Q Earnings: $3.4 billion (-12%)
Comments: Biopharma revenues were up 11% to $10.0 billion. Eliquis sales were up 29% to $1.3 billion in the quarter. Vyndaqel sales were $231 million in the quarter compared to $41 million in 1Q19. Ibrance sales were up 10% to $1.2 billion. Prevenar 13 sales were down 2% to $1.5 billion. Inlyta sales were $169 million in the quarter compared to $73 million in 1Q19. Xeljanz sales were up 7% to $451 million. Xtandi sales were $209 million, up 25%. Enbrel sales (Outside the U.S. and Canada) were $347 million, down 23%. Upjohn sales were down 37% to $2.0 billion primarily due to significant volume declines for Lyrica in the U.S. due to multi-source generic competition. Upjohn revenues in China declined 41% operationally, driven by declines from Lipitor and Norvasc. Beginning in 2020, Upjohn began managing Pfizer’s Meridian subsidiary, the manufacturer of EpiPen and other auto-injector products, and a pre-existing strategic collaboration between Pfizer and Mylan. Acquisition of Pfizer’s Consumer Healthcare business by the GSK Consumer Healthcare joint venture (JV) was completed during 2019, impacting financial results.