Pfizer Inc.’s fourth quarter sales and earnings were largely in line with the lower expectations management already laid out to investors in December, but the company took roughly $2.8bn in asset impairment charges out of the income line, including $1.4bn related to its new S1P modulator Velsipity (etrasimod) and $964m related to Prevnar 13. Another $366m was related to in-process R&D, reflecting updated commercial forecasts mainly due to competitive pressures.
Pfizer Takes Impairment Charges On Velsipity And Prevnar 13
While its new ulcerative colitis drug remains on track to be a blockbuster-sized commercial product, Pfizer said, it took $2.8bn in charges in Q4, including ones related to Velsipity and its pneumococcal vaccine Prevnar 13.
More from Earnings
• By
The promise of innovative therapies seems to have been constrained not by efficacy or safety concerns, but because the high price of treatments is incongruous with the reimbursement of short-course therapies.
• By
Obefazimod has been heralded as a potential blockbuster for ulcerative colitis and there will be great interest in the readout of Phase III induction trials in the third quarter of this year.
• By
The world’s biggest pharmaceutical companies mostly saw growth in 2024 but 2025 promises to be more of a mixed bag with headwinds including losses of exclusivity, Medicare Part D redesign and challenges in the Chinese market.
• By
CSL’s US influenza vaccine sales were a window into wider issues for vaccine manufacturers that had already impacted the fourth-quarter results of Merck, Pfizer and GSK. There could also be a correlation between lower vaccine sales and the measles outbreak in Texas.
More from Business
• By
Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
• By
The head of the Spanish medical dermatology specialist told Scrip that maintaining the status quo will only result in the continent’s life sciences sector slipping further behind the US and China.
• By
Stakeholders are pleading for newly confirmed FDA Commissioner Martin Makary to stand up for the agency's high scientific standards and staff as he begins his term.