Second-Quarter 2012 Financial Reports Show Pfizer, Novartis Down; Merck Up - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Second-Quarter 2012 Financial Reports Show Pfizer, Novartis Down; Merck Up


ePT--the Electronic Newsletter of Pharmaceutical Technology

Pharmaceutical industry leaders Pfizer, Novartis, and Merck—among others—released second-quarter 2012 results, emphasizing growth of new products and strength in emerging markets.

Pfizer’s second-quarter 2012 revenues were $15.1 billion, down 9% from the second-quarter 2011, the company stated in a recent press release. US revenues were down 15% compared with the year-ago quarter, primarily due to the loss of exclusivity of Lipitor on Nov. 30, 2011. International revenues, which represented 62% of total revenues for the quarter, were down 5% compared to the year-ago quarter, primarily due to the unfavorable impact of foreign exchange, said the release. Emerging market unit revenues grew 14% compared with the year-ago quarter, primarily due to volume growth in China and Russia. Pfizer reaffirmed its 2012 financial guidance, noting its continued confidence, financial flexibility, and significant cost savings generated by cost-reduction and productivity initiatives, said Frank D’Amelio, Pfizer CFO, in the release.

Novartis’ group net sales, including its Pharmaceuticals division and Alcon eye care division, were $14.3 billion in the second-quarter 2012, down 4% from second-quarter 2011, stated the company in a press release. Currency had a negative impact of 5%, resulting in 1% growth on a constant-currency basis, said the release. Growth from recently launched products more than offset the loss associated with the Diovan patent expiration. Recently launched products now represent 29% of the company’s group net sales compared with 25% last year, demonstrating Novartis’ continued focus on portfolio rejuvenation. The group secured eight significant regulatory milestones in the second quarter as well, which included European CHMP recommendations for Afinitor in breast cancer, Jakavi in myelofibrosis, and Seebri Breezhaler in COPD, commented Novartis CEO Joseph Jimenez.

Merck’s global sales were $12.3 billion in second-quarter 2012, up 1%, or 5% excluding foreign exchange, from second-quarter 2011, said the company in a press release. Second-quarter pharmaceutical sales grew 5% after excluding 2011 sales of Remicade and Simponi transferred to Johnson & Johnson through a settlement agreement. Emerging markets accounted for 18% of pharmaceutical sales in the second quarter. China, in particular, grew 27% in the second quarter, including 4% from foreign exchange.

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
What role should the US government play in the current Ebola outbreak?
Finance development of drugs to treat/prevent disease.
Oversee medical treatment of patients in the US.
Provide treatment for patients globally.
All of the above.
No government involvement in patient treatment or drug development.
Finance development of drugs to treat/prevent disease.
24%
Oversee medical treatment of patients in the US.
12%
Provide treatment for patients globally.
10%
All of the above.
44%
No government involvement in patient treatment or drug development.
10%
Jim Miller Outsourcing Outlook Jim MillerCMO Industry Thins Out
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerFluorination Remains Key Challenge in API Synthesis
Marilyn E. Morris Guest EditorialMarilyn E. MorrisBolstering Graduate Education and Research Programs
Jill Wechsler Regulatory Watch Jill Wechsler Biopharma Manufacturers Respond to Ebola Crisis
Sean Milmo European Regulatory WatchSean MilmoHarmonizing Marketing Approval of Generic Drugs in Europe
FDA Reorganization to Promote Drug Quality
FDA Readies Quality Metrics Measures
New FDA Team to Spur Modern Drug Manufacturing
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here