Financial Report: Pfizer

Pfizer

2Q Revenues: $11.8 billion (-7%)

2Q Earnings: $2.6 billion (-10%)

YTD Revenues: $22.7 billion (-6%)

YTD Earnings: $5.0 billion (-5%)

Comments: Global Innovative Pharmaceutical segment sales were $3.5 billion in the quarter, down 1%. Global Vaccines sales were $1.6 billion, up 44% driven by Prevnar 13, up 87% in the U.S., and 25% internationally. Global Oncology sales were $713 million, up 25% driven by the U.S. launch of Ibrance for advanced breast cancer and, to a lesser extent, Sutent, Inlyta and Xalkori sales in most markets. Established Products sales were $5.1 billion, down 22%, primarily due to the loss of exclusivity and multi-source generic competition for Celebrex in the U.S., as well as generic competition for Zyvox in the U.S. and Lyrica in certain European markets. Revenues for Lipitor in developed markets declined as a result of continued generic competition. Additionally, the co-promotion collaboration for Spiriva has terminated in most countries.