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Assessing Pfizer’s Global Performance

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Pfizer’s global performance

As we discussed earlier, Pfizer (PFE) reported a rise in revenue in international markets in the second quarter, though this growth was offset by lower sales in US markets.

The above chart compares the company’s US sales and international sales in the last quarter.

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Performance in US markets

Pfizer reported revenue of ~$6.22 billion in US markets in the second quarter, a 2% fall compared to ~$6.34 billion in the first quarter of 2017.

The Innovative Health segment reported a rise of 3% in revenue to ~$4.58 billion driven by a 5% rise in vaccines sales, a 5% rise in oncology product sales, a 33% rise in inflammation and immunology product sales, and a 1% rise in consumer healthcare product sales.

The Essential Health segment reported a ~14% fall in revenue to $1.65 billion driven by a 21% fall in revenue from sterile injectable pharmaceuticals and a 20% fall in revenue from legacy established products.

Performance in international markets

Pfizer reported revenue of ~$7.24 billion in international markets in the second quarter, an 11% rise in revenue compared to $6.55 billion in the first quarter of 2017.

The Innovative Health segment reported a rise of 8% in operating revenue to ~$3.70 billion driven by a 30% rise in revenue from oncology products, a 16% rise in revenue from vaccines, a 24% rise in revenue from internal medicine products, a 6% rise in revenue from rare disease products, and a 9% rise in revenue from consumer healthcare products.

The Essential Health segment reported a rise of 1% in operating revenue to ~$3.54 billion driven by an 8% rise in revenue from sterile injectable pharmaceuticals, a 9% rise in revenue from legacy established products, a rise of more than 100% in revenue from Pfizer CentreOne, and a 27% rise in revenue from biosimilars.

The iShares US Healthcare ETF (IYH) holds 6.5% in Pfizer, 9.7% in Johnson & Johnson (JNJ), 2.6% in Eli Lilly and Company (LLY), and 2.6% in Bristol-Myers Squibb (BMY).

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