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How Are Pfizer’s Vaccines and Biosimilars Positioned after 3Q17?

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Vaccine revenue trends

In 3Q17, Pfizer’s vaccines business generated revenues of $1.6 billion, which reflected ~1% growth on a year-over-year (or YoY) basis. In 3Q17, in the US market, Pfizer’s vaccines generated revenues of $1.0 billion, a ~4% decline on a YoY basis.

During the first nine months of 2017, Pfizer’s vaccines generated revenues of around $4.4 billion, a ~4% decline on a YoY basis. For the first nine months of 2017, Pfizer reported vaccine revenues of $2.6 billion and $1.8 billion in the US market and international markets, respectively.

 

In 3Q17, Pfizer’s (PFE) Prevnar 13 generated revenues of $1.5 billion, a ~1% decline on a YoY basis and ~32% growth on a quarter-over-quarter basis. In 3Q17, in the US market, Prevnar 13 generated revenues of $971 million, a ~4% decline on a YoY basis.

In the first nine months of 2017, Pfizer reported Prevnar 13 revenues of $4.0 billion, a ~5% decline on a YoY basis. In 3Q17, Pfizer’s FSME/IMMUN-TicoVac vaccine reported revenues of $43 million compared to $33 million in 3Q16, ~31% growth on a YoY basis.

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Biosimilars revenue trends

In 3Q17, Pfizer’s biosimilars business generated revenues of $141 million, a ~70% increase on a YoY basis and ~17% growth on a quarter-over-quarter basis. In 3Q17, in the US market, biosimilars generated revenues of $34 million. In 3Q17, Pfizer generated biosimilars revenues of $107 million in international markets, a ~28% increase on a YoY basis.

Pfizer reported YTD September 2017 biosimilars revenues of $367 million compared to $228 million YTD in September 2016. In 3Q17, Pfizer’s biosimilar Inflectra/Remsima reported revenues of $112 million compared to $49 million in 3Q16.

GlaxoSmithKline (GSK), Sanofi (SNY), and Merck (MRK) reported revenues of 7.8 billion British pounds, 9.05 billion euros, and $10.3 billion, respectively, in 3Q17. The Vanguard Value ETF (VTV) invests ~1.8% of its total portfolio holdings in Pfizer.

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