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31 July 2018Americas

Pfizer expects $1.9bn loss due to patent expirations

US-based pharmaceutical company  Pfizer today reported an increase in year-on-year revenue for the second quarter but projected nearly a $2 billion loss in 2018 due to patent expirations.

The company filed revenues of $13.5 billion for Q2 2018, representing 2% in operational growth.

But Pfizer’s filing also included an expected $1.9 billion loss due to recent and expected generic and biosimilar competition for some products that have either recently lost or are expected to lose patent protection.

The company added that it assumes no generic competition for its Lyrica (pregabalin) product until June 2019. This is in line with a six-month patent-term extension granted by the US Food and Drug Administration for paediatric exclusivity.

Lyrica is used in the treatment of fibromyalgia, diabetic nerve pain, spinal cord injury nerve pain, and partial onset seizures in adults.

The majority ($8.27 billion) of the company’s Q2 revenue comes from the innovative health business units, with the remaining $5.19 billion deriving from its essential health business units.

Pfizer’s recent filing reflects an increase of 4% over Q2 of 2017, when it filed $12.9 billion in revenue.

Earlier this month, Pfizer announced that it will organise the company into three businesses, including an off-patent branded and generic established medicines arm.

The other two units will focus on science-based innovative medicines and consumer healthcare.

These changes to Pfizer’s structure will be effective at the beginning of the 2019 fiscal year.

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More on this story

Big Pharma
29 November 2018   The US Food and Drug Administration has granted Pfizer paediatric exclusivity for Lyrica, extending the period of US market exclusivity for the drug by six months.
Big Pharma
31 January 2019   American pharmaceutical company Pfizer warned investors of little revenue growth to come in 2019, owing partly to expiring exclusivity rights on drugs including Viagra and the seizure medicine Lyrica.
Americas
8 April 2019   India-based drugmaker Sun Pharma has accused Pfizer of infringing a patent with a new extended-release formulation of Lyrica.

More on this story

Big Pharma
29 November 2018   The US Food and Drug Administration has granted Pfizer paediatric exclusivity for Lyrica, extending the period of US market exclusivity for the drug by six months.
Big Pharma
31 January 2019   American pharmaceutical company Pfizer warned investors of little revenue growth to come in 2019, owing partly to expiring exclusivity rights on drugs including Viagra and the seizure medicine Lyrica.
Americas
8 April 2019   India-based drugmaker Sun Pharma has accused Pfizer of infringing a patent with a new extended-release formulation of Lyrica.