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Pfizer's (PFE) Key Drugs Likely to Drive Its Q1 Earnings
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Pfizer (PFE - Free Report) comprises six business units — Oncology, Inflammation & Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine
Oncology sales are likely to have risen in the first quarter, driven by higher sales of Ibrance, Inlyta and alliance revenues from Astellas for Xtandi.
Strong CDK class market penetration are likely to have driven Ibrance’s sales. However, pricing pressure in certain European markets is likely to have hurt Ibrance’s international sales. The impact of COVID-19 on sales remains to be seen.
Importantly, U.S. and developed Europe sales of Inlyta have risen 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 first quarter.
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. However, lower prices, increased impact from the Medicare donut hole, and unfavorable channel mix hurt Eliquis’ sales in the past two quarters. It remains to be seen if these factors had any impact on Eliquis sales in the first quarter.
Pfizer’s stock has risen 5% this year so far compared with 1.8% increase for the industry.
The Zacks Consensus Estimate for sales of Ibrance (worldwide) and alliance revenues from Eliquis is $1.32 billion and $1.34 billion, respectively. The Zacks Consensus Estimate for Inlyta and Xeljanz’s sales is pegged at $212 million and $530 million, respectively.
In addition, new brands such as Vyndaqel/Vyndamax, Braftovi, Mektovi and new oncology biosimilars (Trazimera, Zirabev and Ruxience) are likely to have brought in additional sales.
Prevnar 13 sales in the United States might have been hurt by negative impact of the revised Advisory Committee on Immunization Practices (ACIP) recommendations in 2019 and some impact of COVID-19. Favorable timing of government purchases for the pediatric indication benefited Prevnar 13 revenues in the fourth quarter of 2020, a one-time benefit, which is likely to have been missing in the first quarter of 2021. The Zacks Consensus Estimate for sales of Prevnar is $1.51 billion.
A key contributor to Pfizer’s sales increase in the first quarter of 2021 is likely to have been its and partner BioNTech’s (BNTX - Free Report) COVID-19 vaccine, BNT162b2. BNT162b2 is a two-shot vaccine for COVID-19, which is now approved for emergency/temporary use several countries.
However, sales of some key drugs like Chantix in the United States and Enbrel in international markets declined in the past two quarters. While Chantix sales are expected to have been hurt due to loss of exclusivity in November 2020, sales of Enbrel in key European markets, Japan and Brazil are likely to have been hurt due to biosimilar competition. Pfizer has exclusive rights toAmgen’s blockbuster RA drug, Enbrel, outside the United States and Canada
The Zacks Consensus Estimate for sales of Enbrel and Chantix is $290 million and $130 million respectively.
Importantly, the first quarter of 2021 results will the second quarterly result for the “New Pfizer”. Pfizer’s Biopharma unit has become the “New Pfizer” following the separation of the Upjohn unit
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Pfizer's (PFE) Key Drugs Likely to Drive Its Q1 Earnings
Pfizer (PFE - Free Report) comprises six business units — Oncology, Inflammation & Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine
Oncology sales are likely to have risen in the first quarter, driven by higher sales of Ibrance, Inlyta and alliance revenues from Astellas for Xtandi.
Strong CDK class market penetration are likely to have driven Ibrance’s sales. However, pricing pressure in certain European markets is likely to have hurt Ibrance’s international sales. The impact of COVID-19 on sales remains to be seen.
Importantly, U.S. and developed Europe sales of Inlyta have risen 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 first quarter.
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. However, lower prices, increased impact from the Medicare donut hole, and unfavorable channel mix hurt Eliquis’ sales in the past two quarters. It remains to be seen if these factors had any impact on Eliquis sales in the first quarter.
Pfizer’s stock has risen 5% this year so far compared with 1.8% increase for the industry.
The Zacks Consensus Estimate for sales of Ibrance (worldwide) and alliance revenues from Eliquis is $1.32 billion and $1.34 billion, respectively. The Zacks Consensus Estimate for Inlyta and Xeljanz’s sales is pegged at $212 million and $530 million, respectively.
In addition, new brands such as Vyndaqel/Vyndamax, Braftovi, Mektovi and new oncology biosimilars (Trazimera, Zirabev and Ruxience) are likely to have brought in additional sales.
Prevnar 13 sales in the United States might have been hurt by negative impact of the revised Advisory Committee on Immunization Practices (ACIP) recommendations in 2019 and some impact of COVID-19. Favorable timing of government purchases for the pediatric indication benefited Prevnar 13 revenues in the fourth quarter of 2020, a one-time benefit, which is likely to have been missing in the first quarter of 2021. The Zacks Consensus Estimate for sales of Prevnar is $1.51 billion.
A key contributor to Pfizer’s sales increase in the first quarter of 2021 is likely to have been its and partner BioNTech’s (BNTX - Free Report) COVID-19 vaccine, BNT162b2. BNT162b2 is a two-shot vaccine for COVID-19, which is now approved for emergency/temporary use several countries.
However, sales of some key drugs like Chantix in the United States and Enbrel in international markets declined in the past two quarters. While Chantix sales are expected to have been hurt due to loss of exclusivity in November 2020, sales of Enbrel in key European markets, Japan and Brazil are likely to have been hurt due to biosimilar competition. Pfizer has exclusive rights to Amgen’s blockbuster RA drug, Enbrel, outside the United States and Canada
The Zacks Consensus Estimate for sales of Enbrel and Chantix is $290 million and $130 million respectively.
Importantly, the first quarter of 2021 results will the second quarterly result for the “New Pfizer”. Pfizer’s Biopharma unit has become the “New Pfizer” following the separation of the Upjohn unit
Pfizer currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Pfizer Inc. Price and Consensus
Pfizer Inc. price-consensus-chart | Pfizer Inc. Quote
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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