Pfizer Inc (NYSE:PFE) will retain its fizz in 2013
Over the past ten years, healthcare has been one domain that has managed to sustain its momentum in the market. As per the IMS, from 2011-2016, spending on healthcare is projected to rise at a CAGR of approximately 6%. The volume-growth for pharmaceutical companies in emerging markets and the steady rise in medicine spending in most developed countries should be able to boost global growth.
Impressive line-up of drugs
This comes as good news for global pharma companies such as Pfizer Inc (NYSE:PFE). It has had a good run with most of its drugs that have already been launched and has several others in the pipeline. The company has received FDA as well as the EU nod for Eliquis, its anti-clotting drug that it announced with Bristol Meyers Squibb, its partner. The company also announced that the Supplemental NDA for the drug has been accepted for review by the Food Drug Administration.
In 2012 November, PFE gained U.S approval for its rheumatoid arthritis drug, tofacitinib. This drug is being sold under the Xeljanz brand name and is under regulatory-review in over 30 other countries as well. The company has in most probability the most highly-assorted portfolio of various prescription drugs in the industry. PFE manufactures Norvasc which accounted for sales of $1.3B and Lipitor which accounted for $3.9B sales in 2012.
Other drugs like Enbrel raked in $3.7B and Lyrica brought in $4.2B while Celebrex accounted for $2.7B. In toto, last year Pfizer’s sales were a shade below the $59B mark and more than 60% of this came from overseas. Several of the company’s key product patents will also be expiring soon. This has added impetus to PFE’s efforts to ramp up on R&D spending. Eventually, if all goes as planned, new products will replace the older ones.