Pfizer Q2 profit soared, but sales dropped for 3rd quarter in a row

[RobertPhillips900]

Rising sales from key products boosted Pfizer's profit 50% YoY in Q2, but sales dropped for the third quarter in a row. The company attributes the 2% decline in sales to the divestment of its infusions business and foreign exchange fluctuations. The Viagra maker posted earnings of $3.1 bln, or $0.51 per share, on revenue of $12.9 bln.

Top sellers including Lyrica, Ibrance and Eliquis produced higher sales, helping lift sales from Innovative Health business by 8%. Essential Health business had sales dip 14% mostly due to few products losing marketing exclusivity. Sales of rheumatoid arthritis treatment Enbrel tumbled 20% on competition from biosimilars.

"Over the next five years, we project the potential for approximately 25 to 30 approvals, of which up to 15 have the potential to be blockbusters" - Read said.

Graphics of the earnings - https://alphastreet.com/bite/6e72e0d

 

[anonymous]

Rising sales from key products boosted Pfizer's profit 50% YoY in Q2, but sales dropped for the third quarter in a row. The company attributes the 2% decline in sales to the divestment of its infusions business and foreign exchange fluctuations. The Viagra maker posted earnings of $3.1 bln, or $0.51 per share, on revenue of $12.9 bln.

Top sellers including Lyrica, Ibrance and Eliquis produced higher sales, helping lift sales from Innovative Health business by 8%. Essential Health business had sales dip 14% mostly due to few products losing marketing exclusivity. Sales of rheumatoid arthritis treatment Enbrel tumbled 20% on competition from biosimilars.

"Over the next five years, we project the potential for approximately 25 to 30 approvals, of which up to 15 have the potential to be blockbusters" - Read said.

Graphics of the earnings - https://alphastreet.com/bite/6e72e0d

And every new approval will be coming from the R&D of all the acquisitions of good companies, something Pfizer will never be.
R&D here SUCKS .and always will.

 

[anonymous]

Rising sales from key products boosted Pfizer's profit 50% YoY in Q2, but sales dropped for the third quarter in a row. The company attributes the 2% decline in sales to the divestment of its infusions business and foreign exchange fluctuations. The Viagra maker posted earnings of $3.1 bln, or $0.51 per share, on revenue of $12.9 bln.

Top sellers including Lyrica, Ibrance and Eliquis produced higher sales, helping lift sales from Innovative Health business by 8%. Essential Health business had sales dip 14% mostly due to few products losing marketing exclusivity. Sales of rheumatoid arthritis treatment Enbrel tumbled 20% on competition from biosimilars.

"Over the next five years, we project the potential for approximately 25 to 30 approvals, of which up to 15 have the potential to be blockbusters" - Read said.

Graphics of the earnings - https://alphastreet.com/bite/6e72e0d

Right! And NONE of the products are coming from Pfizer R&D.