Pfizer’s blockbuster franchises largely met expectations in the quarter. Sales from pneumonia vaccine Prevnar, which is facing new competition from Merck & Co, were US$1.7 billion, edging out estimates of US$1.6 billion. Sales of blood thinner Eliquis were US$2 billion and sales of heart drug Vyndaqel were US$1.7 billion, meeting expectations.
Many of Pfizer’s top drugs are under pressure. Prevnar and Vyndaqel are facing increased competition, and Covid products don’t hold the allure they once did at the peak of the pandemic. The best-seller Eliquis is facing price cuts after it was selected for negotiations under the Inflation Reduction Act.
The company’s shares were down 1.2% in early trading on Tuesday.
For the quarter, Covid sales were mixed but substantially down from the year prior. Covid-19 vaccine sales were US$2.3 billion, compared to estimates of US$2 billion, down by a third from a year ago. Sales of Pfizer’s Covid treatment Paxlovid were US$218 million, compared to estimates of US$589 million, down by more than two-thirds when compared to the year before.
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