Pfizer said on Thursday that it would be pulling its vaccines sales business out of China after the import license of Prevenar, its top-selling treatment, was not renewed, Reuters reported.
Prevnar pneumonia jabs have been wildly successful for Pfizer, racking up billions of dollars in sales and almost single-handedly driving its vaccine business.
One reason Pfizer snapped up Wyeth in 2009: Its Prevnar/Prevenar vaccine franchise. Now, the latest version of the pneumococcal shot is Pfizer's fourth-biggest seller, with $3.72 billion in 2012 revenues. But Pfizer wants even more.
In pandemic flu preparation, a lot of focus is placed on protecting against the specific viral strain. Yet analysis of the 1918 pandemic shows secondary bacterial pneumonia directly caused many of the deaths. This brings Pfizer's Prevnar 13 into play, and the Big Pharma is talking up its role.
Once again, Lipitor's patent loss gave Pfizer's ($PFE) quarterly results a big wallop. The cholesterol fighter's sales plummeted by 71% year over year, to $749 million. That drop, if a bit bigger than anticipated, was expected; it's been expected for years. So, the company's 16% drop in sales, to about $14 billion, is no wake-up call.
As H1 came to a close, FierceVaccines decided to take a look at which prophylactic vaccines flew off the shelves--and which companies made the sales.
As H1 came to a close, FierceVaccines decided to take a look at which prophylactic vaccines flew off the shelves--and which companies made the sales. Take a look at the full list >>
Pfizer posted higher profits for the second quarter. That's the good news. The not-so-good is that sales dropped by 9%, thanks to increased competition for the newly off-patent Lipitor. The increase in profits came on the back of cost cuts across the company, including big reductions in R&D.
Looks like Pfizer's pneumococcal vaccine Prevenar 13 is down on its luck in the U.K.; the Joint Committee on Vaccination and Immunisation shafted the shot in favor of Pneumovax for adults and high-risk individuals.
Pfizer ($PFE) has been gearing up for the expiration of Lipitor's patent for years, and with the big day finally upon us, analysts and industry watchers are weighing in on the R&D course that the