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Falling Enbrel, Prevnar sales drag Pfizer revenue down 8% to $1.15 bn

Sales of Enbrel, which Pfizer sells outside the United States and Canada, tumbled about 19.5%

Reuters 

Pfizer Inc reported quarterly revenue on Tuesday that missed Wall Street estimates, driven by lower demand for its rheumatoid arthritis treatment Enbrel and pneumonia vaccine Prevnar. Sales of Enbrel, which Pfizer sells outside the United States and Canada, tumbled about 19.5 percent to $617 million on competition from biosimilars. Prevnar sales declined 8.2 percent to $1.15 billion, while sales of its breast cancer treatment, Ibrance, earned $853 million, up from $514 million in the year-ago quarter. Sales of its copycat generics and biosimilars fell 13.5 percent in ...

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First Published: Tue, August 01 2017. 20:50 IST
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