Pfizer

3Q Revenues: $12.0 billion (-2%)

3Q Earnings: $761 million (-77%)

YTD Revenues: $35.6 billion (-1%)

YTD Earnings: $5.4 billion (-45%)

Comments: 3Q Pharma sales dropped 4% to $11.0 billion. Ongoing generic erosion from Zoloft (June 2006) and Norvasc (March 2007) hurt revenues for 3Q and YTD. Sales for those products dropped from $1.6 billion in 3Q06 to $764 million in 3Q07 and $5.5 billion YTD06 to $2.8 billion in YTD07. Lipitor sales decreased 5% to $3.2 billion due to competition from generic statins. Lyrica sales grew 37% to $465 million and  Chantix grew from $33 million to $241 million. Earnings were pounded by a $2.8 billion writeoff from the company's decision to drop Exubera inhaled insulin.

Wyeth

3Q Revenues: $5.6 billion (+9%)

3Q Earnings: $1.1 billion (flat)

YTD Revenues: $16.6 billion (+10%)

YTD Earnings: $3.6 billion (+8%)

Comments: 3Q pharma revenues were up 10% to $4.7 billion, driven by a 24% boost in sales of Prevnar vaccine to $634 million and a 39% rise in ex-NA sales of Enbrel to $527 million. Top-seller Effexor posted a 4% increasse to $958 million. Earnings were impaired by a $117 million charge related to Wyeth's ongoing restructuring.

Novartis

3Q Revenues: $9.6 billion (+9%)

3Q Earnings: $6.8 billion (+267%)

YTD Revenues: $28.1 billion (+13%)

YTD Earnings: $11.0 billion (+100%)

Comments: Net earnings included $5.2 billion from the sale of the Medical Nutrition and Gerber units. Without that boost, net earnings for 3Q would have been $1.6 billion (-12%) and $5.6 billion YTD (+7%). Pharma sales were up 2% in 3Q to $5.9 billion, and up 8% to $17.9 billion YTD. With the earnings announcement, Novartis announced layoffs of 1,260 U.S. employees (240 positions in U.S. HQ and 1020 sales reps and 3rd party reps) and that Pharma division leader Thomas Ebeling has been moved to the Consumer Health Division. Joe Jimenez will now lead the Pharma division.

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