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How Will Pfizer's (PFE) Key Drugs Impact Its Q3 Earnings?
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Pfizer (PFE - Free Report) comprises six business units — Oncology, Inflammation & Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine.
Oncology sales are likely to have risen in the third quarter, driven by higher sales of Ibrance, Inlyta, and alliance revenues from Astellas for Xtandi.
Ibrance sales are likely to have risen outside U.S. markets, which might have made up for lower sales in the United States. Increased demand, due to continued recovery in diagnosis rates and treatment initiations, might have benefited sales outside U.S. markets. However, an increase in the proportion of patients using Pfizer’s Patient Assistance Program (provides Ibrance free of charge to certain low-income patients) due to COVID-related economic hardships might have continued to hurt U.S sales of Ibrance. The Zacks Consensus Estimate for sales of Ibrance (worldwide) is $1.37 billion.
Growth in the United States and developed Europe due to the combination use of Inlyta for the first-line treatment of advanced renal cell carcinoma patients might have benefited the drug’s sales in the third quarter. The Zacks Consensus Estimate for sales of Inlyta is $258 million.
Pfizer’s stock has risen 18.8% this year so far compared with an increase of 14.4% for the industry.
Image Source: Zacks Investment Research
In the non-oncology area, a key contributor to Pfizer’s sales in the third quarter is likely to have been its and partner BioNTech’s (BNTX - Free Report) COVID-19 vaccine, Comirnaty. Sales are expected to have been higher than second-quarter sales of $7.8 billion.
Alliance revenues from Bristol-Myers (BMY - Free Report) for Eliquis and sales of Prevnar 13/Prevenar 13 vaccine are likely to have provided top-line support. Continued increased adoption in nonvalvular atrial fibrillation indication, as well as oral anticoagulant market share gains in the emerging markets and the United States, might have benefited alliance revenues from Eliquis sales in the third quarter. The Zacks Consensus Estimate for alliance revenues from Eliquis is $1.39 billion.
Prevnar 13/Prevenar 13 vaccine sales, which were hurt significantly by the pandemic in the previous quarters, improved in the United States in the second quarter. We expect the positive trend to have continued in the third quarter. The Zacks Consensus Estimate for sales of Prevnar 13/Prevenar 13 vaccine is $1.6 billion.
In addition, new brands such as Vyndaqel/Vyndamax and new oncology biosimilars (Trazimera, Zirabev and Ruxience) should bring in additional sales. Sterile injectable global revenues are also likely to have increased in the third quarter. The Zacks Consensus Estimate for Vyndaqel/Vyndamax sales is $528 million.
However, sales of some key drugs like Chantix in the United States and Enbrel in international markets are likely to have declined in the third quarter, continuing the trend of the past few quarters. While Chantix sales are expected to have been hurt due to loss of exclusivity, sales of Enbrel in key European markets and Japan are likely to have been hurt due to biosimilar competition. Pfizer markets Amgen’s (AMGN - Free Report) Enbrel outside U.S. markets.
An unfavorable change in channel mix and potentially lower new patient starts due to the FDA’s order (given in September) to include a heart-risk warning on the label of Pfizer’s JAK inhibitor drug, Xeljanz may have hurt the drug’s sales. The Zacks Consensus Estimate for Xeljanz sales is $638 million.
Image: Bigstock
How Will Pfizer's (PFE) Key Drugs Impact Its Q3 Earnings?
Pfizer (PFE - Free Report) comprises six business units — Oncology, Inflammation & Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine.
Oncology sales are likely to have risen in the third quarter, driven by higher sales of Ibrance, Inlyta, and alliance revenues from Astellas for Xtandi.
Ibrance sales are likely to have risen outside U.S. markets, which might have made up for lower sales in the United States. Increased demand, due to continued recovery in diagnosis rates and treatment initiations, might have benefited sales outside U.S. markets. However, an increase in the proportion of patients using Pfizer’s Patient Assistance Program (provides Ibrance free of charge to certain low-income patients) due to COVID-related economic hardships might have continued to hurt U.S sales of Ibrance. The Zacks Consensus Estimate for sales of Ibrance (worldwide) is $1.37 billion.
Growth in the United States and developed Europe due to the combination use of Inlyta for the first-line treatment of advanced renal cell carcinoma patients might have benefited the drug’s sales in the third quarter. The Zacks Consensus Estimate for sales of Inlyta is $258 million.
Pfizer’s stock has risen 18.8% this year so far compared with an increase of 14.4% for the industry.
In the non-oncology area, a key contributor to Pfizer’s sales in the third quarter is likely to have been its and partner BioNTech’s (BNTX - Free Report) COVID-19 vaccine, Comirnaty. Sales are expected to have been higher than second-quarter sales of $7.8 billion.
Alliance revenues from Bristol-Myers (BMY - Free Report) for Eliquis and sales of Prevnar 13/Prevenar 13 vaccine are likely to have provided top-line support. Continued increased adoption in nonvalvular atrial fibrillation indication, as well as oral anticoagulant market share gains in the emerging markets and the United States, might have benefited alliance revenues from Eliquis sales in the third quarter. The Zacks Consensus Estimate for alliance revenues from Eliquis is $1.39 billion.
Prevnar 13/Prevenar 13 vaccine sales, which were hurt significantly by the pandemic in the previous quarters, improved in the United States in the second quarter. We expect the positive trend to have continued in the third quarter. The Zacks Consensus Estimate for sales of Prevnar 13/Prevenar 13 vaccine is $1.6 billion.
In addition, new brands such as Vyndaqel/Vyndamax and new oncology biosimilars (Trazimera, Zirabev and Ruxience) should bring in additional sales. Sterile injectable global revenues are also likely to have increased in the third quarter. The Zacks Consensus Estimate for Vyndaqel/Vyndamax sales is $528 million.
However, sales of some key drugs like Chantix in the United States and Enbrel in international markets are likely to have declined in the third quarter, continuing the trend of the past few quarters. While Chantix sales are expected to have been hurt due to loss of exclusivity, sales of Enbrel in key European markets and Japan are likely to have been hurt due to biosimilar competition. Pfizer markets Amgen’s (AMGN - Free Report) Enbrel outside U.S. markets.
An unfavorable change in channel mix and potentially lower new patient starts due to the FDA’s order (given in September) to include a heart-risk warning on the label of Pfizer’s JAK inhibitor drug, Xeljanz may have hurt the drug’s sales. The Zacks Consensus Estimate for Xeljanz sales is $638 million.
Pfizer currently has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.