On July 30, Pfizer announced its H1 2024 financial report, with total revenue of $28.162 billion, a year-on-year decrease of 11%, and net profit of $3.156 billion, a year-on-year decrease of 60%.This is mainly affected by the COVID-19 vaccine Comirnaty and the COVID-19 oral drug Paxlovid.Revenue in Q2 2024 was $13.283 billion, representing a 2% year-over-year increase.This is the first quarter with positive growth since Q4 2022.Excluding the impact of Comirnaty and Paxlovid, Pfizer's Q2 revenue in 2024 was $12.8 billion, increasing by $1.6 billion (+14%）。In the first half of 2024, the revenue of Paxlovid was22.86billion US dollars, a year-on-year decrease of 46%; revenue from Comirnaty was 5.48 billion US dollars, a year-on-year decrease of 88%.The growth in the non-COVID business segment was primarily driven by the acquisition of Seagen's ADC products, Vyndaqel (tafamidis), Eliquis (apixaban),Xtandi (Enzalutamide)And the contributions of Nurtec ODT/Vydura. The decline in sales is reflected in products such as oncology biosimilars and Ibrance (palbociclib).Pfizer's Top 20 Best-Selling Drugs in H1 2024
According to the data disclosed in the financial reportPfizer Sets Strategic Goal to "Achieve Global Leadership in Oncology." In the first half of 2024, oncology business revenue reached $7.505 billion, a year-on-year increase of 23%.Pfizer 2024 Semi-Annual Report
Despite a decline in sales (-8%) of the breast cancer blockbuster drug CDK4/6 inhibitor Ibrance (palbociclib), it still ranked first on the oncology drug sales list with revenue of $2.184 billion. The androgen receptor signaling inhibitor Xtandi (enzalutamide) earned $913 million (+20%), placing second. The third-generation ALK inhibitor Lorbrena (lorlatinib) also saw growth ($332 million,+46%）。In May this year, the 5-year results of the head-to-head Phase III CROWN3 study comparing Lorbrena with the first-generation ALK inhibitor crizotinib for the first-line treatment of ALK-positive advanced NSCLC patients were released: compared with crizotinib,Lorbrena GroupThe risk of disease progression or death was reduced by 81%, with a median progression-free survival (mPFS) exceeding five years and an objective response rate (ORR) Reaches 80%.
In December 2023, Pfizer acquired Seagen for $43 billion. In the first half of 2024, Seagen generated $1.587 billion in revenue for Pfizer. Pfizer previously projected that by 2030, Seagen’s product portfolio could contribute over $10 billion in annual sales.Nectin-4 ADC Drug Padcev (Enfortumab Vedotin) Sales Reach $735 Million; CD30 ADC Drug Adcetris (Brentuximab Vedotin) Sales at $536 Million; HER2 ADC Drug Tukysa (Tucatinib) Sales at $227 Million; Tissue Factor (TF) ADC Drug Tivdak Sales at $60 Million.These four ADCs were already on the market before the acquisition. Among them, Tivdak received accelerated approval from the U.S. FDA in 2021, and in April this year, the FDA fully approved Tivdak's supplemental Biologics License Application (sBLA) for the treatment of patients with recurrent or metastatic cervical cancer whose disease has progressed after chemotherapy.In June, the Phase III ECHELON-3 clinical trial of Adcetris in combination with lenalidomide and rituximab for the treatment of relapsed/refractory diffuse large B-cell lymphoma (DLBCL) achieved positive results. Compared with lenalidomide and rituximab combined with placebo, the Adcetris combination therapy reduced the risk of patient death by 37%.Sales of the anticoagulant Eliquis were 3$9.17 billion, becoming Pfizer's best-selling drug in the first half of 2024, with a year-on-year increase of 9%.The Prevnar Family (Prevnar 20&13) generated sales of $3.05 billion (+2%), becoming Pfizer's second best-selling drug in the first half of 2024, primarily driven by pediatric indications in the United States.In March 2024, the European Commission approved the marketing authorization for the 20-valent pneumococcal conjugate vaccine, Prevnar20.Rare Disease Drug Tafamidis (Vyndaqel, Vyndamax, Vynmac) Revenue Reaches $2.46 Billion, a 68% Increase Year-over-Year, Driven by the Indication for Transthyretin Amyloid Cardiomyopathy (ATTR-CM).Abrysvo is the second RSV (Respiratory Syncytial Virus) vaccine globally approved and launched by Pfizer, with sales reaching $201 million. Its currently approved indication is for the prevention of lower respiratory tract disease caused by RSV in pregnant women and individuals aged 60 and above. In the first half of 2024, Pfizer's pivotal Phase III MONeT clinical trial yielded positive results, leading to an application to expand its indications to include individuals aged 18 and above.In other R&D advancements, in the first half of 2024, Pfizer's one-time gene therapy Beqvez received U.S. FDA approval for use in adult patients with Hemophilia B, and the European Commission granted Beqvez conditional marketing authorization based on the results of the BENEGENE-2 study. Another gene therapy for adult patients with Hemophilia A, giroctocogene fitelparvovec, also achieved positive results in Phase III clinical studies.Pfizer 2024 Semi-Annual Report
On April 23, Emblaveo (aztreonam-avibactam), a β-lactam/β-lactamase inhibitor combination antibiotic jointly developed by Pfizer and AbbVie, was approved by the European Commission for the treatment of complicated intra-abdominal infections (cIAI), hospital-acquired pneumonia (HAP), and complicated urinary tract infections (cUTI) in adults.Pfizer 2024 Semi-Annual Report
In addition, due to Duchenne Muscular Dystrophy (DMD) gene therapyThe Phase III CIFFREO study of fordadistrogene movaparvovec did not meet its primary endpoint, and Pfizer will terminate the development of this product. Pfizer has also abandoned an RSVAndCOVID-19UnitedPhase II Clinical Program of Vaccine PF-07960613。
Looking to the future, PfizerUp-regulation2Full-year 2024 revenue to $59.5~62.5 billion.Copyright © 2024 PHARMCUBE. All Rights Reserved.
Welcome to forward, share, and reasonably cite. When citing, please clearly indicate the source of the article in a prominent position;For reprint, please leave a message to the WeChat Official Account backstage or send a message, and indicate the name and ID of the official account.
Disclaimer: The information in this WeChat article is for general reference only and should not be used directly as decision-making content. PharmaCube assumes no responsibility for any loss incurred by any party due to the use of the content herein.
