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Pfizer: Ibrance and Xtandi Are Key Oncology Assets

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Jan. 31 2019, Updated 10:30 a.m. ET

Ibrance’s international market trends

In fiscal 2018, Pfizer’s (PFE) leading oncology asset, Ibrance reported revenues of $725 million from Developed Europe markets, $245 million from Developed Rest of the World markets, and $226 million from Emerging markets.

In the fourth quarter, Ibrance reported revenues of $242 million from Developed Europe markets, $79 million from Developed Rest of the World markets, and $69 million from Emerging markets.

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Developed Europe and Japan markets emerged as a major growth opportunity for Ibrance in fiscal 2018. According to Pfizer’s fourth-quarter earnings conference call, the drug has managed to secure reimbursement in most of the international developed markets. Ibrance accounts for more than a 90% share of the total CDK4/6 inhibitor sales volumes in these markets.

Xtandi’s growth trends

Xtandi is co-commercialized by Pfizer and Astellas Oncology in the United States, while Pfizer receives royalty income from sales of Xtandi in international markets. In the fourth quarter, the company earned $189 million from Xtandi sales in the United States—a rise of 12% YoY on a reported basis and operational basis.

In fiscal 2018, Pfizer earned $699 million in revenues from the sale of the prostate cancer drug, Xtandi, in the United States—a rise of 18% YoY on a reported basis and operational basis. According to Pfizer’s fourth-quarter earnings conference call, combining royalty income from Xtandi’s ex-US sales, the company earned ~$1.0 billion from the drug in fiscal 2018.

According to Pfizer’s fourth-quarter earnings conference call, Xtandi is the only oral medication approved by the FDA for both metastatic and non-metastatic castration-resistant prostate cancer. The broad label, increasing adoption by urologists, and the company’s focus to drive the drug’s use in early stages are expected to drive Xtandi’s sales in fiscal 2019.

On December 20, Pfizer issued a press release announcing favorable results from the Phase 3 trial, ARCHES. The trial compared the combination of Xtandi and ADT (androgen deprivation therapy) with ADT alone in metastatic hormone-sensitive prostate cancer patients. According to Pfizer’s fourth-quarter earnings conference call, the results could be a competitive advantage for Xtandi compared to other branded and generic prostate cancer drugs.

Next, we’ll discuss how Pfizer’s immunology portfolio performed in the fourth quarter and fiscal 2018.

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