Pfizer 4Q Results

Pfizer

4Q Revenues: $17.8 billion (+22%)

4Q Earnings: $410 million (loss of $3.4 billion 4Q24)

FY Revenues: $63.6 billion (+7%)

FY Earnings: $8.0 billion (earnings were $2.1 billion FY24)

Comments: Global Biopharmaceutical sales were $17.4 billion in the quarter, up 23%. Pfizer CentreOne sales were $325 million in the quarter, down 11%. Revenues in the quarter reflect an operational increase of $3.1 billion, or 21%, primarily due to a one-time, non-cash Paxlovid revenue reversal of $3.5 billion recorded in 4Q23 and, to a lesser extent, growth contributions of $915 million from legacy Seagen portfolio and Vyndaqel family with sales up 61% to $1.5 billion.

Comirnaty revenues in the quarter were $3.4 billion, down 37%, driven primarily by fewer COVID-19 vaccinations globally as well as lower contracted doses.

Eliquis sales were up 14% to $1.8 billion and Xtandi sales were up 24% to $565 million. This growth was partially offset by lower sales of Abrysvo, down 62% to $198 million, due to a significant reduction in vaccination rates; Xeljanz down 29% to $349 million, primarily due to lower demand; Oncology biosimilars sales were down 35% to $209 million, driven by supply constraints and lower demand and lower net pricing.