Pfizer 3Q Results

Pfizer

3Q Revenues: $16.7 billion (-6%) 

3Q Earnings: $3.5 billion (-21%)

YTD Revenues: $45.0 billion (-2%)

YTD Earnings: $9.4 billion (+24%)

Comments: Revenue in the quarter was impacted by declines in COVID-19 product revenues including a 55% decline in Paxlovid sales and a 19% decline in Comirnaty sales due to narrower vaccine recommendation for COVID-19 in the U.S. that reduced the eligible population. Results include a one-time $1.35 billion Acquired In-Process R&D charge related to the in-licensing agreement with 3SBio, Inc. recorded in the third quarter.

Global biopharmaceutical sales were $16.3 billion, down 6%. Primary Care sales were down 16% to $7.6 billion. Eliquis sales were up 22% to $2.0 billion. Prevnar sales were down 3% to $1.7 billion. Nurtec ODT/Vydura globally, up 22% to $412 million.

Specialty Care sales were up 3% to $4.4 billion. Vyndaqel family sales were up 10% to $1.6 billion. Xeljanz sales were $313 million, down 3%.

Oncology sales were up 5% to $4.3 billion. Ibrance sales were down 3% to $1.05 billion. Xtandi sales were $578 million, up 3%. Padcev sales were up 13% to $464 million.

Pfizer CentreOne revenue in the quarter was up 21% to $344 million.