Pfizer's static Q3 sales buoyed by international growth
Pfizer reported static third quarter revenues of $12 billion, with solid international sales offsetting weaker US sales for several key products.
Pharmaceutical revenues were down 1% for the quarter year-on-year to $11 billion, with the favorable impact of foreign exchange helping offset the loss of US exclusivity on Norvasc, Zyrtec and Camptosar.
Lipitor revenues were down 1% to $3.1 billion for the quarter as a 16% increase in international sales compensated for a 13% drop in US sales. Lyrica revenues shot up 45% to $675 million, with international revenues up 51% and US revenues up 40%. Celebrex revenues were up 8%, with international revenues increasing 21% and US revenues up 4%. Sutent revenues were up 49% on strong international growth – international sales rose 79%, while US sales rose a mere 4%. And Chantix revenues were down 24% due to a 49% decline in US sales, while international sales rose 60%.
Pfizer recently scrapped its regional business units in favor of global organizations, creating new units to house development and commercial operations for primary care, specialty therapeutics and emerging markets such as Russia, China, India and Turkey. At the same time the company signaled plans to focus more on international markets amid slowing US sales growth.