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Financial Report: Pfizer

May 5, 2014

Revenue down 9% in the quarter


1Q Revenues: $11.4 billion (-9%)

1Q Earnings: $2.3 billion (-15%)

Comments: Global Vaccines sales were flat at $925 million in the quarter. Consumer Healthcare sales were down 6% to $761 million. Global Oncology revenue was $488 million, up 7%, driven by Xalkori (+66% to $88 million) and Inlyta (+40% to $88 million). Lyrica sales were $1.2 billion, up 8%. Alliance revenue was down 71% to $213 million.Sales declines were attributed to the expiration of the co-promotion term for Enbrel in the U.S. and Canada, the ongoing expiration of the Spiriva collaboration in certain countries, the loss of exclusivity for Detrol LA in the U.S., and the continued erosion of Lipitor (-27% to $457 million). R&D expenses were flat at $1.6 billion.