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Pfizer reports second quarter revenues of more than $12 billion
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NEW YORK — Pfizer Inc. reported second quarter revenues of $12.27 billion, reflecting post-acquisition results from the purchase of Pharmacia, the company announced in a financial news release. Highlights for the quarter included U.S. regulatory filing for a drug in development for treatment of age-related macular degeneration, the press release said.
The company’s human pharmaceutical operations generated revenues of $10.7 billion, up 24% from the comparable figures 1 year ago. Its consumer health care business posted sales of $869 million, an increase of 21% compared with 2003.
Eleven of the company’s products, including glaucoma drug Xalatan (latanoprost) achieved revenues of more than $500 million for the first half of the year, according to the release.
Sales of Xalatan and Xalacom (latanoprost, timolol) totaled $291 million during the second quarter of the year, the company said. Latanoprost is the leading “prescribed glaucoma medication in all promoted markets, including the U.S., Europe and Japan,” Pfizer states on its Web site, which notes that Xalatan is the “first and only prostaglandin” with a first-line indication for the treatment of elevated eye pressure.
Future sales growth of Xalatan and Xalacom will come through market expansion, the company said. Earlier this month, Pfizer prevailed in a patent lawsuit against another company seeking to introduce a generic version of the medication.
Last month, Pfizer completed its U.S. regulatory filing of Macugen (pegaptanib sodium injection), a medication in development for the treatment of AMD. Pfizer is promoting and developing the drug in collaboration with Eyetech Pharmaceuticals. The drug has been granted fast-track review by the Food and Drug Administration, and filings in the European Union and other markets are expected later this year, the company said. Macugen is also being developed for the treatment of diabetic macular edema.
In another highlight from the quarter, the company’s surgical ophthalmology business was sold to Advanced Medical Optics for $450 million in cash; the deal was finalized last month.