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Financial Report: Pfizer

April 30, 2013

Revenues disappoint, but new products rise


1Q Revenues: $13.5 billion (-9%)
1Q Earnings: $2.8 billion (+53%)
Comments: Primary Care sales were down 21% to $3.2 billion impacted a 55% drop in Lipitor revenues and loss of exclusivity and near-term expiration of co-promotion agreements for Aricept and Spiriva. These declines were partially offset by Lyrica sales, up 12% to $1.1 billion. Oncology sales were up 31% to $372 million, driven by recent launches Inlyta and Xalkori in several major markets. Specialty Care sales were down 11% to $3.2 billion. Buying patterns for Prevnar 13 hurt revenues. Emerging Markets sales were up 6% to $2.4 billion. Established Product sales were down 15% to $2.4 billion. Consumer Healthcare sales were up 12% to $811 million. R&D Expenses were $1.7 billion, down 3%. Earnings reflect divested interest in Zoetis.