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Pfizer revenues decreased $310 million

Staff writer |
Pfizer reported financial results for third-quarter 2013. Reported revenues decreased $310 million, or 2%, which reflects an operational decline of $38 million, or less than 1%, and the unfavorable impact of foreign exchange of $272 million, or 2%.

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The operational decrease was primarily the result of the continued erosion for branded Lipitor in the U.S., developed Europe and certain other markets. Additionally, revenues were negatively impacted by other product losses of exclusivity, the ongoing expiration of the Spiriva collaboration in certain countries, decreased government purchases of Prevnar and Enbrel in certain emerging markets, and various other events.

Revenues were positively impacted by the overall growth of Lyrica, Enbrel, Inlyta and Xalkori, as well as Celebrex and Xeljanz in the U.S. In addition, reported revenues included $67 million from the transitional manufacturing and supply agreements with Zoetis.

Specialty Care revenues declined 1% operationally, Primary Care revenues decreased 8% operationally, emerging markets revenues grew 5% operationally, and established products revenues decreased 1% operationally. Consumer healthcare revenues increased 1% operationally, and oncology revenues increased 26% operationally.

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