Pfizer 2009 Annual Report Download - page 24

Financial Review
Pfizer Inc. and Subsidiary Companies
Biopharmaceutical—Selected Product Descriptions
•Lipitor, for the treatment of elevated LDL-cholesterol levels in the blood, is the most widely used branded prescription treatment for
lowering cholesterol and the best-selling prescription pharmaceutical product of any kind in the world. Lipitor recorded worldwide
revenues of $11.4 billion in 2009, a decrease of 8% compared to 2008. These results, in part, reflect the negative impact of foreign
exchange, which decreased revenues by $490 million, or 4%, in 2009, compared to 2008. In the U.S., revenues were $5.7 billion or a
decrease of 10% in 2009 compared to 2008. Internationally, Lipitor revenues were $5.7 billion or a decrease of 5% in 2009 compared
to 2008. The unfavorable impact of foreign exchange more than offset operational growth of 3% in international markets in 2009
compared to 2008.
In addition to the unfavorable impact of foreign exchange, the decrease in Lipitor worldwide revenues in 2009 compared to 2008
was driven by a combination of factors, including the following:
Othe continuing impact of an intensely competitive lipid-lowering market with competition from multi-source generics and branded
products in the U.S.;
Oincreased payer pressure in the U.S.; and
Oslower growth in the lipid-lowering market due, in part, to a slower rate of growth in the Medicare Part D population and, reflecting the
global recession, heightened overall patient cost-sensitivity in the U.S. and adoption of non-prescription treatment options,
partially offset by:
Ooperational growth internationally.
See Notes to Consolidated Financial Statements—Note 19. Legal Proceedings and Contingencies for a discussion of certain
patent litigation relating to Lipitor.
•Lyrica, indicated for the management of post-herpetic neuralgia (PHN), diabetic peripheral neuropathy (DPN), fibromyalgia, and as
adjunctive therapy for adult patients with partial onset seizures in the U.S., and for neuropathic pain, adjunctive treatment of epilepsy
and general anxiety disorder (GAD) outside the U.S., recorded increases in worldwide revenues of 10% in 2009 compared to 2008.
Lyrica had a strong operational performance in international markets in 2009. In the U.S., revenues have been adversely affected by
increased generic competition, as well as managed care pricing and formulary pressures.
See Notes to Consolidated Financial Statements—Note 19. Legal Proceedings and Contingencies for a discussion of certain
patent litigation relating to Lyrica.
•Celebrex, a treatment for the signs and symptoms of osteoarthritis and rheumatoid arthritis and acute pain in adults, experienced a
decrease in worldwide revenues of 4% in 2009 compared to 2008 due to increased generic competition. Celebrex is supported by
continued educational and promotional efforts highlighting its efficacy and safety profile for appropriate patients.
•Norvasc, for treating hypertension, lost exclusivity in the U.S. in March 2007. Norvasc also has experienced patent expirations in most
other major markets, including Japan in July 2008 and most recently Canada in the third quarter of 2009. Norvasc worldwide revenues
in 2009 decreased 12% compared to 2008.
•Viagra remains the leading treatment for erectile dysfunction and one of the world’s most recognized pharmaceutical brands after more
than a decade. Viagra worldwide revenues in 2009 declined 2% compared to 2008. In the U.S., 2009 Viagra revenues increased 7%
compared to 2008 and, internationally, revenues decreased 11% compared to 2008 due primarily to the unfavorable impact of foreign
exchange.
•Xalatan, a prostaglandin, is the world’s leading branded agent to reduce elevated eye pressure in patients with open-angle glaucoma
or ocular hypertension. Xalacom, a fixed combination prostaglandin (Xalatan) and beta blocker (timolol), is available outside the U.S.
Xalatan/Xalacom worldwide revenues were essentially flat in 2009 compared to 2008, as the unfavorable impact of foreign exchange
offset operational revenue growth.
•Detrol/Detrol LA, a muscarinic receptor antagonist, is the most prescribed branded medicine worldwide for overactive bladder. Detrol
LA is an extended-release formulation taken once a day. Detrol/Detrol LA worldwide revenues in 2009 declined 5% compared to 2008,
primarily due to increased competition from other branded medicines.
See Notes to Consolidated Financial Statements—Note 19. Legal Proceedings and Contingencies for a discussion of certain
patent litigation relating to Detrol and Detrol LA.
•Zyvox is the world’s best-selling branded agent for the treatment of certain serious Gram-positive pathogens, including Methicillin-
Resistant Staphylococcus-Aureus (MRSA). Zyvox worldwide revenues in 2009 increased 2% compared to 2008, primarily due to
growth in emerging markets. Revenues have been adversely affected by a decrease in the number of patients treated for pneumonia
and by increased generic competition in the U.S., as well as competition from recently launched agents in certain high-volume
international markets such as the U.K.
See Notes to Consolidated Financial Statements—Note 19. Legal Proceedings and Contingencies for a discussion of certain
patent litigation relating to Zyvox.
22 2009 Financial Report