Pfizer
2Q Revenues: $12.1 billion (+9%)
2Q Earnings: $2.8 billion (+119%)
YTD Revenues: $24.0 billion (+2%)
YTD Earnings: $5.6 billion (+19%)
Comments: Pharmaceutical sales in the quarter were $11.1 billion (+9%) and $22.0 billion YTD (+1%), including exchange rate benefits of $800 million in 1Q08. Lipitor revenues in the quarter were $3.0 billion (+9%). Lyrica revenues in the quarter were $614 million (+52%). Celebrex revenues were $589 million (+23%). Sutent revenues were $211 million (+45%). Chantix (Champix outside the U.S.) revenues in the quarter were $207 million (+3%). U.S. sales were down 35% to $109 million, due to added safety information on the U.S. label, while international sales were $98 million (+197%). R&D expenses were $1.9 billion in the quarter (-8%), excluding $156 million of in-process R&D expenses associated with the acquisitions of Serenex, Inc. and Encysive Pharmaceuticals. Restructuring charges and acquisition-related costs were $569 million in the quarter (-46%). Results were impacted by the loss of U.S. exclusivity for Zyrtec, which Pfizer stopped selling in January 2008, and for Camptosar in February 2008. Zyrtec and Camptosar 2Q08 revenues decreased by $377 million and $104 million, respectively.
Magazine
