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Will Pfizer's (PFE) BioPharma Unit Drive Its Q2 Earnings?
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Pfizer’s (PFE - Free Report) Biopharmaceuticals Group, which comprises six business units — Oncology, Inflammation & Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine, is expected to have been the company’s key top-line driver in the second quarter.
Within the Biopharma group, oncology sales are likely to have risen in the second quarter, driven by higher sales of Ibrance, Inlyta, Xalkori and alliance revenues from Astellas for Xtandi.
Continued strong uptake in international markets and consistent CDK class market share growth in the United States are likely to have driven Ibrance’s sales. Meanwhile, the coronavirus pandemic is likely to have had minimal impact on patient starts for Ibrance in the second quarter.
Importantly, U.S. sales of Inlyta rose significantly in the past few quarters, gaining from FDA approvals in 2019 for the combination of Inlyta plus Pfizer’s Bavencio and Inlyta plus Merck’s (MRK - Free Report) Keytruda in first-line treatment of advanced renal cell carcinoma patients. The trend is expected to have continued in the second quarter.
Pfizer’s stock has declined 1.6% this year so far against an increase of 1.7% for the industry.
In non-oncology area, sales of drugs like Xeljanz and alliance revenues from Bristol-Myers (BMY - Free Report) for Eliquis are likely to have provided top-line support. The coronavirus pandemic is expected to have had a minimal impact on patient starts for Eliquis while new patient starts for Xeljanz are likely to have dropped.
The Zacks Consensus Estimate for sales of Ibrance (worldwide) and alliance revenues from Eliquis is $1.35 billion and $1.27 billion, respectively. The Zacks Consensus Estimate for Inlyta and Xeljanz’s sales is pegged at $171 million and $658 million, respectively.
In addition, new brands such as Vyndaqel/Vyndamax, Braftovi, Mektovi and new oncology biosimilars (Trazimera, Zirabev and Ruxience) are expected to have brought additional sales. However, patient starts for Vyndaqel are also likely to have been impacted somewhat in the second quarter due to lockdown restrictions as fewer patients visited doctors. Trazimera, Zirabev and Ruxience are biosimilar versions of Roche’s drugs, Herceptin, Avastin, and Rituxan, respectively.
A temporary slowdown in Prevnar vaccinations is also likely to have hurt the vaccine’s sales in the second quarter. Meanwhile, sales of Chantix are expected to have been significantly impacted as it is administered on visiting a doctor.
Meanwhile, sales of important drug Enbrel in key European markets is likely to have declined due to continued biosimilar competition. Pfizer has exclusive rights to Amgen’s (AMGN - Free Report) blockbuster RA drug, Enbrel, outside the United States and Canada.
The Zacks Consensus Estimate for sales of Enbrel and Prevnar is $317 million and $1.05 billion, respectively.
Meanwhile, Pfizer’s sterile injectables portfolio is likely to have benefited from higher demand due to the COVID-19 pandemic and Pfizer’s manufacturing recovery efforts. Pfizer believes its anti-infective medicines as well as other sterile injectable products are utilized in the incubation and ongoing treatment of mechanically ventilated COVID-19 patients.
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
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Will Pfizer's (PFE) BioPharma Unit Drive Its Q2 Earnings?
Pfizer’s (PFE - Free Report) Biopharmaceuticals Group, which comprises six business units — Oncology, Inflammation & Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine, is expected to have been the company’s key top-line driver in the second quarter.
Within the Biopharma group, oncology sales are likely to have risen in the second quarter, driven by higher sales of Ibrance, Inlyta, Xalkori and alliance revenues from Astellas for Xtandi.
Continued strong uptake in international markets and consistent CDK class market share growth in the United States are likely to have driven Ibrance’s sales. Meanwhile, the coronavirus pandemic is likely to have had minimal impact on patient starts for Ibrance in the second quarter.
Importantly, U.S. sales of Inlyta rose significantly in the past few quarters, gaining from FDA approvals in 2019 for the combination of Inlyta plus Pfizer’s Bavencio and Inlyta plus Merck’s (MRK - Free Report) Keytruda in first-line treatment of advanced renal cell carcinoma patients. The trend is expected to have continued in the second quarter.
Pfizer’s stock has declined 1.6% this year so far against an increase of 1.7% for the industry.
In non-oncology area, sales of drugs like Xeljanz and alliance revenues from Bristol-Myers (BMY - Free Report) for Eliquis are likely to have provided top-line support. The coronavirus pandemic is expected to have had a minimal impact on patient starts for Eliquis while new patient starts for Xeljanz are likely to have dropped.
The Zacks Consensus Estimate for sales of Ibrance (worldwide) and alliance revenues from Eliquis is $1.35 billion and $1.27 billion, respectively. The Zacks Consensus Estimate for Inlyta and Xeljanz’s sales is pegged at $171 million and $658 million, respectively.
In addition, new brands such as Vyndaqel/Vyndamax, Braftovi, Mektovi and new oncology biosimilars (Trazimera, Zirabev and Ruxience) are expected to have brought additional sales. However, patient starts for Vyndaqel are also likely to have been impacted somewhat in the second quarter due to lockdown restrictions as fewer patients visited doctors. Trazimera, Zirabev and Ruxience are biosimilar versions of Roche’s drugs, Herceptin, Avastin, and Rituxan, respectively.
A temporary slowdown in Prevnar vaccinations is also likely to have hurt the vaccine’s sales in the second quarter. Meanwhile, sales of Chantix are expected to have been significantly impacted as it is administered on visiting a doctor.
Meanwhile, sales of important drug Enbrel in key European markets is likely to have declined due to continued biosimilar competition. Pfizer has exclusive rights to Amgen’s (AMGN - Free Report) blockbuster RA drug, Enbrel, outside the United States and Canada.
The Zacks Consensus Estimate for sales of Enbrel and Prevnar is $317 million and $1.05 billion, respectively.
Meanwhile, Pfizer’s sterile injectables portfolio is likely to have benefited from higher demand due to the COVID-19 pandemic and Pfizer’s manufacturing recovery efforts. Pfizer believes its anti-infective medicines as well as other sterile injectable products are utilized in the incubation and ongoing treatment of mechanically ventilated COVID-19 patients.
Overall, in the second quarter, higher sales of the Biopharma segment are likely to have made up for lower sales in the Upjohn group
Pfizer currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>