Pfizer Inc.: PharmaVitae Profile

Pfizer Inc.: PharmaVitae Profile

Introduction

This analysis examines the historical and forecast performance for Pfizer in the ethical pharmaceutical sector. The profile encompasses global company strategy, portfolio and pipeline analysis and assessment of financial performance, with 1-6 year sales forecasts for key drugs. An interactive forecasting and analysis tool provides continually updated quantitative and qualitative information.

Reasons to Purchase

*Benchmark Pfizer's performance against key rivals in the ethical pharmaceutical sector

*Assess how Pfizer's M&A driven growth strategy will continue to impact the company's commercial performance out to 2013

*Analyze the impact of patent expiry for Pfizer's flagship product Lipitor, which accounted for c.29% of the company's prescription drug sales in 2007

CHAPTER 1 ABOUT THIS PROFILE 2
Executive summary 2
Quarterly news update 2
Company introduction 2
Company sales 2
Company financials 2
Key products and competitors 3
Data sourcing 3
Sales data 3
Analyst consensus 3
CHAPTER 2 EXECUTIVE SUMMARY 4
Key findings 4
Prescription pharmaceutical sales performance, 2001-13 6
Financial performance, 2001-13 7
Pfizer: PharmaVitae forecasts at a glance 8
Strategic insight 9
Introduction 9
Pfizer pre-2001 - the Warner-Lambert acquisition 9
Uptake of Lipitor - the blockbuster redefined 10
Pfizer returns to the M&A trail - the Pharmacia acquisition 11
Pfizer seeks to replicate Lipitor success with Cox-2 franchise 12
Lipitor - a double edged sword? 13
Failure of Torcetrapib - No second chance for Lipitor 14
What next for Pfizer? 15
Internal revenue growth to prove insufficient 15
Pfizer leads peer set into cost cutting territory 16
In-licensing to remain a key opportunity 18
Conclusions 19
SWOT analysis 21
Strengths 21
Weaknesses 22
Opportunities 23
Threats 24
CHAPTER 3 QUARTERLY NEWS UPDATE 29
Product developments 29
Deals and alliances 30
Product deals 30
Technology deals 33
M&A activity 35
Company announcements 36
Future product milestones 44
CHAPTER 4 COMPANY INTRODUCTION 47
Key findings 47
Background 48
Key corporate developments 48
M&A history & strategy 49
Warner-Lambert 49
Pharmacia 50
CHAPTER 5 COMPANY SALES 52
Key findings 52
Prescription pharmaceutical sales and growth rate analysis, 2001-13 53
Product analysis 56
Product analysis, 2001-07 57
Product analysis, 2007-13 61
Therapy area analysis 64
Therapy area analysis, 2001-07 65
Therapy area analysis, 2007-13 67
Therapy area focus, 2001-13 68
Geographic analysis 70
Geographic analysis, 2001-07 71
Geographic analysis, 2007-13 73
Geographic focus, 2001-13 75
Launch/core/expiry analysis 76
Explanation of launch/core/expiry analysis 76
Launch analysis, 2007-13 77
Core analysis, 2007-13 79
Expiry analysis, 2007-13 81
Launch/core/expiry configuration, 2007-13 83
Molecule type analysis 84
Molecule type analysis, 2001-07 85
Molecule type analysis, 2007-13 86
Externalization analysis 89
Externalization analysis, 2001-07 90
Externalization analysis, 2007-13 92
CHAPTER 6 COMPANY FINANCIALS 95
Key findings 95
Reconciliation between PharmaVitae-formatted prescription pharma sales and company-reported total sales, 2001-07 96
Financial statements, 2001-07 98
Profit and loss account, 2001-07 98
Balance sheet, 2001-07 101
Operating costs and profit analysis 103
Operating costs and profit analysis, 2001-07 104
Operating cost ratio and profit margin analysis, 2001-07 106
Operating cost ratio and profit margin analysis, 2007-13 108
Operating costs and profit analysis, 2007-13 110
Return on capital employed analysis 113
Capital employed analysis, 2001-07 114
Return on capital employed (RoCE) analysis, 2001-07 116
Market capitalization analysis 118
Market capitalization analysis, 2001-07 118
Total shareholder returns analysis, 2001-07 120
CHAPTER 7 KEY PRODUCTS AND COMPETITORS 122
Key findings 122
Overview 123
Cardiovascular 124
Lipitor 124
Overview 125
Sales forecast 126
Norvasc 129
Overview 130
Sales forecast 131
Central Nervous System (CNS) 132
Lyrica 132
Overview 133
Sales forecast 134
Chantix/Champix 136
Overview 137
Sales forecast 138
Zoloft 140
Overview 141
Sales forecast 142
Oncology 144
Sutent 144
Overview 145
Sales forecast 146
Immunology & Inflammation 150
Celebrex 150
Overview 151
Sales forecast 152
Urology & gender specific health 154
Viagra 154
Overview 155
Sales forecast 156
Detrol/Detrol LA 157
Overview 158
Sales forecast 159
Infectious diseases 161
Vfend 161
Overview 162
Sales forecast 163
Zyvox 165
Overview 166
Sales forecast 167
Selzentry 169
Overview 170
Sales forecast 171
Respiratory 173
Zyrtec/Zyrtec D 173
Overview 174
Sales forecast 175
CHAPTER 8 APPENDIX 177
R&D pipeline 177
Abbreviations 180
Exchange rates 181
List of Tables
Table 1: Pfizer - PharmaVitae forecasts at a glance 8
Table 2: Pfizer key product developments, Q1 and Q2 2008 29
Table 3: Pfizer product deals and alliances, Q1 and Q2 2008 30
Table 4: Pfizer technology deals and alliances, Q1 and Q2 2008 33
Table 5: Pfizer M&A activity, Q1 and Q2 2008 35
Table 6: Pfizer company announcements, Q1 and Q2 2008 36
Table 7: Pfizer future product milestones, 2008-10 44
Table 8: Pfizer product portfolio overview ($m), 2001-07 57
Table 9: Pfizer product portfolio overview ($m), 2007-13 61
Table 10: Pfizer product portfolio overview ($m), 2001-07 65
Table 11: Pfizer product portfolio overview ($m), 2007-13 67
Table 12: Pfizer portfolio overview by geographic region ($m), 2001-07 71
Table 13: Pfizer portfolio overview by geographic region ($m), 2007-13 73
Table 14: Pfizer launch portfolio overview ($m), 2007-13 77
Table 15: Pfizer core portfolio overview ($m), 2007-13 79
Table 16: Pfizer expiry portfolio overview ($m), 2007-13 81
Table 17: Pfizer portfolio overview by molecule type ($m), 2001-07 85
Table 18: Pfizer product portfolio overview by molecule type ($m), 2007-13 86
Table 19: Pfizer product portfolio overview by source ($m), 2001-07 90
Table 20: Pfizer product portfolio overview by source ($m), 2007-13 92
Table 21: Total Pfizer sales by business unit ($m), 2001-07 96
Table 22: Pfizer profit and loss account ($m), 2001-07 98
Table 23: Pfizer balance sheet ($m), 2001-07 101
Table 24: Pfizer operating revenue/cost analysis ($m), 2001-07 104
Table 25: Pfizer operating cost ratio analysis (% of total revenues), 2001-07 106
Table 26: Pfizer operating cost ratio analysis (% of total revenues), 2007-13 108
Table 27: Pfizer operating revenue/cost analysis ($m), 2007-13 110
Table 28: Calculation of average 'other operating (expenditure)/income' for Pfizer operating revenue/cost analysis ($m), 2007-13 111
Table 29: Pfizer capital employed ($m), 2001-07 114
Table 30: Pfizer EBIT return on capital employed ($m), 2001-07 116
Table 31: Pfizer EBIT pre-tax return/Capital employed driver analysis (%), 2001-07 117
Table 32: Pfizer market capitalization ($ billion), 2001-07 118
Table 33: Pfizer total shareholder returns (annual %), 2001-07 120
Table 34: Key products overview 123
Table 35: Lipitor: overview 125
Table 36: Lipitor: sales forecast ($m), 2007-13 126
Table 37: Norvasc: overview 130
Table 38: Norvasc: sales forecast ($m), 2007-13 131
Table 39: Lyrica: overview 133
Table 40: Lyrica: sales forecast ($m), 2007-13 134
Table 41: Chantix/Champix: overview 137
Table 42: Chantix/Champix: sales forecast ($m), 2007-13 138
Table 43: Zoloft: overview 141
Table 44: Zoloft: sales forecast ($m), 2007-13 142
Table 45: Sutent: overview 145
Table 46: Sutent: sales forecast ($m), 2007-13 146
Table 47: Celebrex: overview 151
Table 48: Celebrex: sales forecast ($m), 2007-13 152
Table 49: Viagra: overview 155
Table 50: Viagra: sales forecast ($m), 2007-13 156
Table 51: Detrol/Detrol LA: overview 158
Table 52: Detrol/Detrol LA: sales forecast ($m), 2007-13 159
Table 53: Vfend: overview 162
Table 54: Vfend: sales forecast ($m), 2007-13 163
Table 55: Zyvox: overview 166
Table 56: Zyvox: sales forecast ($m), 2007-13 167
Table 57: Selzentry: overview 170
Table 58: Selzentry: sales forecast ($m), 2007-13 171
Table 59: Zyrtec/Zyrtec D: overview 174
Table 60: Zyrtec/Zyrtec D: sales forecast ($m), 2007-13 175
Table 61: Pfizer's R&D pipeline (Phase I-registration) 177
Table 62: Exchange rates, 2007 181
List of Figures
Figure 1: Pfizer prescription pharmaceutical performance, sales ($m) and growth rate (%), 2001-13 6
Figure 2: Pfizer's financial performance ($m), 2001-13 7
Figure 3: Pfizer prescription pharmaceutical sales by M&A activity ($m), 2001-13 11
Figure 4: Lipitor sales as a percentage of Pfizer prescription pharmaceutical sales ($m), 2001-13 13
Figure 5: Reduction in SG&A costs to drive only temporary growth in operating profit 18
Figure 6: Pfizer SWOT analysis 21
Figure 7: Pfizer prescription pharmaceutical performance, sales ($m) and growth rate (%), 2001-13 54
Figure 8: Pfizer key sales growth driver & resistors ($m), 2001-07 58
Figure 9: Pfizer key sales growth drivers & resistors ($m), 2007-13 62
Figure 10: Pfizer prescription pharmaceutical sales by therapy area ($m), 2001-13 64
Figure 11: Pfizer prescription pharma sales by therapy area (% of total), 2001-13 68
Figure 12: Pfizer prescription pharmaceutical sales by geographic region ($m), 2001-13 70
Figure 13: Pfizer growth drivers and resistors by geographic region ($m), 2001-07 71
Figure 14: Pfizer drivers and resistors by geographic region ($m), 2007-13 73
Figure 15: Pfizer prescription pharmaceutical sales by geographic region (% of total), 2001-13 75
Figure 16: Pfizer launch/core/expiry configuration ($m), 2007-13 83
Figure 17: Pfizer prescription pharmaceutical sales by molecule type ($m), 2001-13 84
Figure 18: Pfizer growth drivers and resistors by molecule type ($m), 2007-13 87
Figure 19: Pfizer prescription pharmaceutical sales by source ($m), 2001-13 89
Figure 20: Pfizer growth drivers and resistors by source ($m), 2001-07 90
Figure 21: Pfizer growth drivers and resistors by source ($m), 2007-13 93
Figure 22: Pfizer operating revenue/cost analysis ($m), 2001-13 103
Figure 23: Pfizer operating cost ratio analysis (% of total revenues), 2001-13 109
Figure 24: Pfizer return on capital employed, EBIT margin and capital turnover, 2001-07 113
Figure 25: Return on capital employed formula 117
Figure 26: Pfizer market capitalization ($ billion), 2001-07 119
Figure 27: Pfizer total shareholder returns vs. S&P 500 ($m), 2001-07 121