Pfizer 2015 Annual Report Download - page 27

Financial Review
Pfizer Inc. and Subsidiary Companies
26
2015 Financial Report
• Lyrica (GEP (revenues from all of Europe, Russia, Turkey, Israel and Central Asia)/GIP (all other revenues)) is indicated in the U.S. for
three neuropathic pain conditions, fibromyalgia and adjunctive therapy for adult patients with partial onset seizures. In certain markets
outside the U.S., indications include neuropathic pain (peripheral and central), fibromyalgia, adjunctive treatment of epilepsy and
generalized anxiety disorder. Worldwide revenues for Lyrica were relatively flat operationally in 2015, compared to 2014. Foreign
exchange had an unfavorable impact on worldwide revenues of 6% in 2015, compared to 2014.
In the U.S., revenues increased 15% in 2015, compared to 2014, driven by price and volume increases, and investment in direct-to-
consumer advertising combined with strong field force performance, partially offset by higher rebates.
Internationally, Lyrica revenues decreased 11% operationally in 2015, compared to 2014, due to losses of exclusivity in certain developed
Europe markets, partially offset by operational growth primarily in Japan. Foreign exchange had an unfavorable impact on international
revenues of 13% in 2015, compared to 2014.
Worldwide revenues from Lyrica in our GIP segment increased 13% operationally in 2015, compared to 2014, and in our GEP segment,
revenues from Lyrica decreased 23% operationally in 2015, compared to 2014.
• Enbrel (GIP, outside the U.S. and Canada), indicated for the treatment of moderate-to-severe rheumatoid arthritis, polyarticular juvenile
rheumatoid arthritis, psoriatic arthritis, plaque psoriasis, ankylosing spondylitis (a type of arthritis affecting the spine), and nonradiographic
axial spondyloarthritis, recorded a 1% operational increase in worldwide revenues, excluding the U.S. and Canada, in 2015, compared to
2014. Results were favorably impacted by demand in certain markets in Europe and the timing of government purchases in Africa Middle
East offset primarily by the change in the distribution channel in the U.K. Foreign exchange had a unfavorable impact of 14% in 2015,
compared to 2014.
• Lipitor (GEP) is indicated for the treatment of elevated LDL-cholesterol levels in the blood. Lipitor faces generic competition in all major
developed markets. Branded Lipitor recorded worldwide revenues of $1.9 billion, or a 4% operational decrease in 2015, compared to
2014. Foreign exchange had an unfavorable impact of 6% in 2015, compared to 2014.
In the U.S., revenues decreased 33% in 2015 compared to 2014, primarily due to lower volumes and higher rebates.
In our international markets, revenues were relatively flat operationally in 2015, compared to 2014, driven by volume growth in emerging
markets, primarily in China, offset by brand erosion due to generic competition and increased payer pressure in developed markets.
Foreign exchange had an unfavorable impact on international revenues of 7% in 2015, compared to 2014.
• Viagra (GIP (revenues from U.S. and Canada)/GEP (all other revenues excluding U.S. and Canada)) is indicated for the treatment of
erectile dysfunction. Viagra worldwide revenues increased 5% operationally in 2015, compared to 2014, primarily due to operational
growth in the U.S. and emerging markets. Foreign exchange had an unfavorable impact of 4% in 2015, compared to 2014. International
revenues decreased 7% operationally in 2015, compared to 2014, primarily from brand erosion due to generic competition and increased
payer pressure in developed markets, partially offset by volume growth in China. Foreign exchange had an unfavorable impact on
international revenues of 11% in 2015, compared to 2014. Revenues in the U.S. increased 11% in 2015, compared to 2014, primarily
driven by increased pill quantity per prescription, higher purchases from the U.S. Department of Veterans Affairs/Department of Defense,
and price increases, partially offset by lower patient demand.
• Sutent (O) is indicated for the treatment of advanced renal cell carcinoma, including metastatic renal cell carcinoma (mRCC);
gastrointestinal stromal tumors after disease progression on, or intolerance to, imatinib mesylate; and advanced pancreatic
neuroendocrine tumor. Sutent worldwide revenues increased 7% operationally in 2015, compared to 2014, primarily due to greater
demand in emerging markets as well as price increases in the U.S. Foreign exchange had an unfavorable impact of 12% in 2015,
compared to 2014.
• Our Premarin family of products (GEP) helps women address moderate-to-severe menopausal symptoms. Premarin worldwide revenues
decreased 4% operationally in 2015, compared to 2014. Revenues in the U.S. in 2015 were unfavorably impacted by prescription volume
declines and lower market growth, partially offset by price increases. Foreign exchange had an unfavorable impact of 1% in 2015,
compared to 2014.
• Norvasc (GEP) is indicated for the treatment of hypertension. Norvasc worldwide revenues decreased 3% operationally in 2015,
compared to 2014, due to generic erosion in Japan, partially offset by volume growth in emerging markets, primarily in China. Foreign
exchange had an unfavorable impact of 8% in 2015, compared to 2014.
• Zyvox (GEP) is among the world’s best-selling branded agents used to treat serious Gram-positive pathogens, including methicillin-
resistant staphylococcus-aureus. Zyvox worldwide revenues decreased 27% operationally in 2015, compared to 2014. Foreign exchange
had an unfavorable impact of 8% in 2015, compared to 2014.
In the U.S., revenues decreased 61% due to generic competition beginning in the first half of 2015, as well as pricing pressures.
Internationally, Zyvox revenues increased 7% operationally in 2015 compared to 2014, primarily due to volume growth in China. Foreign
exchange had an unfavorable impact on international revenues of 15% in 2015, compared to 2014.
• Celebrex (GEP) is indicated for the treatment of the signs and symptoms of osteoarthritis and rheumatoid arthritis worldwide and for the
management of acute pain in adults in the U.S., Japan and certain other markets. Celebrex recorded a 66% decrease in worldwide
operational revenues in 2015, compared to 2014, primarily driven by the loss of exclusivity and associated generic competition in the U.S.
and certain other developed markets. Foreign exchange had an unfavorable impact of 3% in 2015 compared to 2014.
In the U.S., revenues decreased 92% in 2015 compared to 2014, driven by the loss of exclusivity and launch of multi-source generic
competition in December 2014.
Internationally, Celebrex revenues decreased 20% operationally in 2015, compared to 2014, driven by the loss of exclusivity and launch of
multi-source generic competition in most developed markets. Foreign exchange had an unfavorable impact on international revenues of
9% in 2015, compared to 2014.