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How Will Pfizer's (PFE) Key Drugs Perform in Q2 Earnings?
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Pfizer's (PFE - Free Report) Biopharma operating segment includes three sub-segments, Primary Care, Specialty Care and Oncology.
In the Primary Care segment, Pfizer expects significantly lower sales from its COVID products in the second quarter versus the first quarter.
Among COVID products, Pfizer records direct sales and alliance revenues from its partner, BioNTech (BNTX - Free Report) for the COVID-19 vaccine, Comirnaty, and product revenues from its oral antiviral pill for COVID, Paxlovid.
Our estimate for direct sales and alliance revenues from BioNTech for Comirnaty is $1.23 billion, while that for Paxlovid is $610 million.
Alliance revenues from Bristol-Myers (BMY - Free Report) for Eliquis are likely to have provided top-line support. Continued oral anti-coagulant adoption and market share gains in non-valvular atrial fibrillation might have benefited alliance revenues from Bristol-Myers’ Eliquis sales in the United States and some European markets in the second quarter. The Zacks Consensus Estimate for alliance revenues from Eliquis is $1.86 billion while our model estimate is $2.0 billion.
Pfizer’s stock has declined 29.6% this year so far against an increase of 2.5% for the industry.
Image Source: Zacks Investment Research
Sales of Prevnar family of vaccines are also expected to have been a key contributor to the top line. The Prevnar family includes revenues from Prevnar 13/Prevenar 13 (pediatric and adult) and Prevnar 20 (adult). The Zacks Consensus Estimate for sales of Prevnar family of vaccines is $1.50 billion while our model estimates Prevnar family vaccine sales to be $1.47 billion.
In the Specialty Care unit, rare disease drug Vyndaqel/Vyndamax is expected to have been a key contributor to the top line. The Zacks Consensus Estimate for sales of Vyndaqel/Vyndamax is $722 million while our model estimates the same to be $682 million.
Sales of some key drugs like Xeljanz and Enbrel in international markets are likely to have declined in the second quarter, continuing the trend of the past few quarters. Sales of Enbrel in key European markets and Japan are likely to have been hurt due to biosimilar competition. Lower prices and prescription volumes globally, with doctors’ prescribing patterns shifting away from JAK inhibitors following label warnings, are likely to have hurt Xeljanz’s sales in the second quarter.
The Zacks Consensus Estimate for Xeljanz and Enbrel is pegged at $341 million and $214.0 million, respectively, while our estimate is $357.4 million and $218.4 million, respectively.
Newly acquired products, including Nurtec ODT/Vydura for migraine and Oxbryta for sickle cell disease are expected to have contributed to the top line in the quarter. Nurtec ODT/Vydura was added to Pfizer’s portfolio with the acquisition of Biohaven in 2022. Oxbryta was added with the October 2022 acquisition of Global Blood Therapeutics.
In the Oncology unit, sales of key medicine, Ibrance in the United States are likely to have declined due to planned price decreases in some international developed markets and lower clinical trial purchases. The Zacks Consensus Estimate for Ibrance is $1.29 billion, while our estimate is $1.32 billion.
A large drug stock worth considering is Novartis (NVS - Free Report) , which has a Zacks Rank of 2 (Buy).
Estimates for Novartis’ 2023 earnings per share have increased from $6.74 to $6.89 over the past 30 days. Estimates for 2024 have jumped from $7.28 per share to $7.45 in the same timeframe. Novartis’ stock has risen 14.8% this year so far.
Novartis beat earnings expectations in all the trailing four quarters. The company delivered a four-quarter earnings surprise of 6.56%, on average.
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How Will Pfizer's (PFE) Key Drugs Perform in Q2 Earnings?
Pfizer's (PFE - Free Report) Biopharma operating segment includes three sub-segments, Primary Care, Specialty Care and Oncology.
In the Primary Care segment, Pfizer expects significantly lower sales from its COVID products in the second quarter versus the first quarter.
Among COVID products, Pfizer records direct sales and alliance revenues from its partner, BioNTech (BNTX - Free Report) for the COVID-19 vaccine, Comirnaty, and product revenues from its oral antiviral pill for COVID, Paxlovid.
Our estimate for direct sales and alliance revenues from BioNTech for Comirnaty is $1.23 billion, while that for Paxlovid is $610 million.
Alliance revenues from Bristol-Myers (BMY - Free Report) for Eliquis are likely to have provided top-line support. Continued oral anti-coagulant adoption and market share gains in non-valvular atrial fibrillation might have benefited alliance revenues from Bristol-Myers’ Eliquis sales in the United States and some European markets in the second quarter. The Zacks Consensus Estimate for alliance revenues from Eliquis is $1.86 billion while our model estimate is $2.0 billion.
Pfizer’s stock has declined 29.6% this year so far against an increase of 2.5% for the industry.
Image Source: Zacks Investment Research
Sales of Prevnar family of vaccines are also expected to have been a key contributor to the top line. The Prevnar family includes revenues from Prevnar 13/Prevenar 13 (pediatric and adult) and Prevnar 20 (adult). The Zacks Consensus Estimate for sales of Prevnar family of vaccines is $1.50 billion while our model estimates Prevnar family vaccine sales to be $1.47 billion.
In the Specialty Care unit, rare disease drug Vyndaqel/Vyndamax is expected to have been a key contributor to the top line. The Zacks Consensus Estimate for sales of Vyndaqel/Vyndamax is $722 million while our model estimates the same to be $682 million.
Sales of some key drugs like Xeljanz and Enbrel in international markets are likely to have declined in the second quarter, continuing the trend of the past few quarters. Sales of Enbrel in key European markets and Japan are likely to have been hurt due to biosimilar competition. Lower prices and prescription volumes globally, with doctors’ prescribing patterns shifting away from JAK inhibitors following label warnings, are likely to have hurt Xeljanz’s sales in the second quarter.
The Zacks Consensus Estimate for Xeljanz and Enbrel is pegged at $341 million and $214.0 million, respectively, while our estimate is $357.4 million and $218.4 million, respectively.
Newly acquired products, including Nurtec ODT/Vydura for migraine and Oxbryta for sickle cell disease are expected to have contributed to the top line in the quarter. Nurtec ODT/Vydura was added to Pfizer’s portfolio with the acquisition of Biohaven in 2022. Oxbryta was added with the October 2022 acquisition of Global Blood Therapeutics.
In the Oncology unit, sales of key medicine, Ibrance in the United States are likely to have declined due to planned price decreases in some international developed markets and lower clinical trial purchases. The Zacks Consensus Estimate for Ibrance is $1.29 billion, while our estimate is $1.32 billion.
Zacks Rank and Stock to Consider
Pfizer 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
A large drug stock worth considering is Novartis (NVS - Free Report) , which has a Zacks Rank of 2 (Buy).
Estimates for Novartis’ 2023 earnings per share have increased from $6.74 to $6.89 over the past 30 days. Estimates for 2024 have jumped from $7.28 per share to $7.45 in the same timeframe. Novartis’ stock has risen 14.8% this year so far.
Novartis beat earnings expectations in all the trailing four quarters. The company delivered a four-quarter earnings surprise of 6.56%, on average.