Headquarters: New York City
2016 revenues: $52.82 billion
2015 revenues: $48.85 billion
Pfizer certainly didn’t end the year with the portfolio it thought it would, given the quashing of its Allergan merger. But that didn’t stop it from posting revenue growth—and bringing in alternative buys to keep that growth coming.
Stripping out the impact of foreign exchange and operations it recently inherited through acquisitions, Pfizer’s full-year revenue grew 5% on the year, climbing by $2.2 billion to hit $48.1 billion. In the U.S., growth was more pronounced; revenues increased by 21%, or $4.7 billion.
The reasons? Growth in a few key products, including breast cancer med Ibrance, pain product Lyrica, blood thinner Eliquis, arthritis pill Xeljanz and quit-smoking treatment Chantix. Collectively, they drove sales up by about $2.8 billion, Pfizer said in its 10-K.
Ibrance, for its part, saw sales skyrocket to $2.14 billion from $723 million in 2015. The cancer-fighter has now been prescribed by about 9,500 U.S. physicians, Albert Bourla, the group president of Pfizer's innovative products division, said on Pfizer's Q4 earnings conference call, up from 8,500 in Q3. And the company sees more growth going forward coming from "late adopters"—docs who have already prescribed Ibrance, but in a limited number of patients.
Eliquis, meanwhile, is making waves in the next-gen anticoagulant market. After getting off to an ice-cold start, Pfizer and partner Bristol-Myers Squibb socked some serious marketing dollars into the med, and now it's giving Johnson and Johnson's market leader Xarelto a run for its money.
That’s not to say all of Pfizer’s stars had a great year. Behemoth vaccine Prevnar 13 struggled to measure up to 2015, in which it captured a large chunk of the 65-and-older crowd after winning a key CDC committee recommendation. All told, it ended the year $380 million shy of its 2015 haul.
There were other weak points, too. Outside the U.S., revenue slid by $693 million, or 3% compared with the year prior.
Pfizer, though, managed to lock up a couple key deals it thinks will boost it going forward. In August, it beat out several Big Pharma peers to ink a pact for Medivation, grabbing access to prostate cancer pill Xtandi. Before that, it agreed to grab Anacor, which brought potential eczema blockbuster Eucrisa—approved that December—into the fold.
And the company doesn't intend to stop there. It'll keep angling for buys that can provide revenue growth “now or soon,” CFO Frank D’Amelio said at the J.P. Morgan Healthcare Conference. And if the U.S. sees tax reform measures that alter the penalty for bringing home cash trapped overseas, Pfizer could have plenty of room to make those buys.