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How Pfizer’s Established Products Have Performed

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Lipitor revenue trends

In 3Q17, Pfizer’s (PFE) Lipitor reported revenues of $491 million, a ~16% increase on a year-over-year (or YoY) basis and ~10% growth on a quarter-over-quarter basis. In 3Q17, in the US and international markets, Lipitor generated revenues of $60 million and $431 million, respectively, compared to $27 million and $394 million in 3Q16.

Increased demand for Lipitor in China and some Middle Eastern markets boosted the drug’s revenue growth in 3Q17. The growth was partially offset by pricing pressures in China and lower sales volumes in Japan. During the first nine months of 2017, Lipitor generated revenues of $1.3 billion, which reflected ~4% growth on a YoY basis. Lipitor’s competitors include AstraZeneca’s (AZN) Crestor, Merck’s (MRK) Vytorin and Zetia, and Bristol-Myers Squibb’s (BMY) Pravachol. In 3Q17, Crestor, Vytorin, and Zetia reported revenues of $580 million, $142 million, and $320 million, respectively.

Norvasc’s revenue trends

In 3Q17, Norvasc generated revenues of $226 million, a ~5% decline on a YoY basis and a 2% decline on a quarter-over-quarter basis. In 3Q17, Norvasc generated revenues of $9 million and $217 million from the US and international markets, respectively, compared to $10 million and $228 million in 3Q16.

Pfizer’s Norvasc reported year-to-date (or YTD) September 2017 revenues of $684 million, which reflected a ~4% decline on a YoY basis. Generic competition in Japan, pricing pressures in China, and lower sales volumes in the Middle Eastern markets primarily contributed to the decline of Norvasc revenues in 3Q17 and the first nine months of 2017 compared to the corresponding periods in 2016.

The revenue growth of Pfizer’s Lipitor and Norvasc could boost the stock prices of the First Trust Nasdaq Pharmaceuticals ETF (FTXH). Pfizer makes up about ~8.2% of FTXH’s total portfolio holdings.

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