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Este informe no está disponible en español. CARIBBEAN BUSINESS Local Manufacturing Of Pfizer / Pharmacia Products Yields $25.8 Billion In 2002 Sales Thirteen of 26 key products manufactured in Puerto Rico By MARIALBA MARTINEZ March 13, 2003 Pfizer Inc. and Pharmacia Corp., which plan a $60 billion merger this year, produced 13 of their 26 pharmaceutical drugs in Puerto Rico during 2002, generating sales of $25.8 billion. Once the deal is completed, the new entity, which will be the dominant drug manufacturer in the world, will have more than $48 billion in combined annual revenue, including nearly $40 billion in prescription sales. The landscape of Puerto Rico’s pharmaceutical manufacturing industry will also change since six local production plants are included in the sale. In 2002, Pfizer’s local manufacturing operations produced eight of the top 13 key-selling products. The company has operations in Fajardo, Vega Baja, and Barceloneta, plus a marketing facility in Rio Piedras. The Barceloneta plant manufactures Zoloft, Norvasc, Diflucan, and Viagra, while Vega Baja’s operations produce bestseller Lipitor, Accupril, and Neurontin. Pfizer plans to begin local production of Geodon and Zyrtec, which brought $1.3 billion in sales during 2002. Pfizer’s sales in 2002 surpassed those of all other U.S. and global pharmaceutical manufacturing companies, spearheaded by an 18.6% market growth compared with the previous year, said health provider IMS Health. Year-end revenue for Pfizer increased 12% from $29 billion in 2001 to $32.4 billion in 2002. Net income was up 17% to $9.1 billion, or $1.46 diluted earnings per share, from $7.8 billion, or $1.22 diluted earnings per share. Pfizer’s top key-products sellers were Lipitor ($7.8 billion), Norvasc ($3.8 billion), Zoloft ($2.7 billion), Neurontin ($2.3 billion), Viagra ($1.7 billion), and Zyrtec ($1.1 billion). Karen Katen, executive vice president of the company & president of Pfizer Pharmaceuticals Group, said, "For the year, 10 products that Pfizer markets or co-promotes achieved sales of over $1 billion. Each of these billion-dollar medicines--Lipitor, Norvasc, Zoloft, Neurontin, Viagra, Zithromax, Celebrex, Zyrtec, Diflucan, and Aricept--are among the leaders in their individual therapeutic categories. These products represented 85% of Pfizer’s human-pharmaceutical revenues and grew 15% in 2002 in the aggregate." Standard & Poor’s Rating Services assigned an "AAA" debt rating to Pfizer’s $300 million, 3.3% senior unsecured notes due 2009 and its $300 million, 4.65% senior unsecured notes due 2018. Standard & Poor’s also affirmed Pfizer’s "AA" long-term corporate credit and senior unsecured debt ratings, as well as its "A-1+" short-term corporate credit and commercial paper ratings. Pfizer’s international drug portfolio includes eight of the world’s 30 best-selling pharmaceuticals, more than any other pharmaceutical company. In 2002, 10 of the company’s drugs generated more than $1 billion each in sales. Its key-products list is led by cholesterol-lowering treatment Lipitor, the best-selling drug in the world. Pharmacia, with headquarters in New Jersey, has pharmaceutical drug production plants in Arecibo, Caguas, and Barceloneta, with a sales, marketing & distribution headquarters in Dorado. Arecibo’s Pharmacia plant makes Mirapex, Detrol, and Zyvox, while the Caguas plant is responsible for producing the company’s most recent blockbusters, Celebrex and Bextra, whose sales reached nearly $4 million in 2002. Pharmacia’s 2002 revenue reports indicate that net sales were almost $14 billion, compared with $13.8 billion in 2001, a 1% increase. However, 2002 net earnings fell 60% to $597 million, or $0.44 diluted earnings per share, from $1.5 billion, or $1.12 diluted earnings per share, in 2001. The company’s prescription-product growth drivers were Xalatan ($928 million), Detrol LA / Detrol ($757 million), and Depo-Provera ($339 million), along with new product Bextra ($470 million). Pharmacia’s merger with Pfizer will bring young products to Pfizer’s portfolio, including the leading painkiller Celebrex / Bextra, glaucoma treatment Xalatan, and urinary-incontinence drug Detrol. None of Pharmacia’s significant drugs face expiration before 2007. Likewise, Pfizer’s relatively young portfolio has no major product-patent expirations before 2004. ******* Pfizer Inc. & Pharmacia Corp. Key Prescription Sales for 2002 In millions; products in bold are made in Puerto Rico
Product: Sales / % Growth over 2001 Product: Sales / % Growth over 2001 7,800 / 24 Norvasc: 3,800 / 7 Zoloft: 2,700 / 16 Neurontin: 2,300 / 30 Viagra: 1,700 / 14 Alliance revenue: 1,700 / 141 Zithromax: 1,500 / 1 Zyrtec: 1,100 / 13 Diflucan: 1,100 / 4 Accupril / Accuretic: 668 / 11 Geodon: 222 / 49 Aricept: 203 / 29 Celebrex: 100 / 312 3,000 / -2 Xalatan: 928 / 14 Detrol: 757 / 23 Genotropin: 551 / 8 Bextra: 470 / NP3 Depo-Provera: 339 / 20 Pharmorubicin / Ellence: 333 / 28 Medrol: 329 / 2 Fragmin: 270 / 20 Arthrotec: 241 / 3 Cabaser / Dostinex: 230 / 39 Mirapex: 207 / 40 Zyvox: 199 / 85 1 Includes Aricept, Bextra, Celebrex, Spiriva, and Rebif. 2 Direct sales under license agreement with Pharmacia Corp. 3 New product. This Caribbean Business article appears courtesy of Casiano Communications.
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