Pfizer 2009 Annual Report Download - page 26

Financial Review
Pfizer Inc. and Subsidiary Companies
We have exclusive rights to Enbrel outside the U.S. and Canada and co-promote Enbrel with Amgen Inc. (Amgen) in the U.S. and
Canada. Our co-promotion agreement with Amgen expires in October 2013, and we are entitled to a royalty stream for 36 months
thereafter, which is significantly less than our current share of Enbrel profits from U.S. and Canadian sales. Our rights to Enbrel
outside the U.S. and Canada will not be affected by the expiration of the co-promotion agreement.
•Prevnar/Prevenar 7 is our vaccine for preventing invasive pneumococcal disease in infants and young children.
•Our Premarin family of products remains the leading therapy to help women address moderate to severe menopausal symptoms.
•Zosyn/Tazocin, our broad-spectrum intravenous antibiotic. Zosyn/Tazocin faces generic competition in the U.S. and certain other
markets. Generic competition is expected to intensify in the U.S. after the expiration in March 2010 of the six months of generic
exclusivity granted to the first-to-file generic manufacturer.
See Notes to Consolidated Financial Statements—Note 19. Legal Proceedings and Contingencies for a discussion of certain
litigation relating to Zosyn.
•BeneFIX and ReFacto/Xyntha are our state-of-the-art hemophilia products that offer patients with this lifelong bleeding disorder the
potential for a near-normal life.
See Notes to Consolidated Financial Statements—Note 19. Legal Proceedings and Contingencies for a discussion of certain
patent litigation relating to ReFacto and Xyntha.
•Alliance revenues increased 30% in 2009 compared to 2008, due to the strong performance of Aricept, Spiriva and Rebif, as well as
the addition of sales of Enbrel, a legacy Wyeth product, in the U.S. and Canada.
Product Developments
We continue to invest in R&D to provide potential future sources of revenues through the development of new products, as well as
through additional uses for existing in-line and alliance products, and we have taken important steps to prioritize our R&D portfolio to
maximize value. After a review in 2008 of all our therapeutic areas, we announced our decision to exit certain disease areas and
give higher priority to the following disease areas: oncology, pain, inflammation, Alzheimer’s disease, psychoses and diabetes. With
our acquisition of Wyeth, we also have added a focus on vaccines and biologics. While we continue to conduct research across a
broad range of diseases, approximately 70% of our research projects and 75% of our late-stage portfolio currently are focused on
our higher-priority areas. Notwithstanding our efforts, there are no assurances as to when, or if, we will receive regulatory approval
for additional indications for existing products or any of our other products in development.
We achieved the 2008-2009 R&D goals that we announced in March 2008. We advanced 15 new molecular entities and new
indications to Phase 3 during the 2008-2009 period, which resulted in a total of 27 legacy Pfizer programs in Phase 3 at the end of
2009. In addition, we added seven Phase 3 programs through our acquisition of Wyeth, increasing our total number of Phase 3
programs at year-end 2009 to 34.
Below are significant regulatory actions by, and filings pending with, the FDA and regulatory authorities in the EU and Japan:
Recent FDA approvals:
PRODUCT INDICATION DATE APPROVED
Prevnar 13 Infant Prevention of invasive pneumococcal disease in infants and young children February 2010
Selzentry (maraviroc) HIV in treatment-naïve patients November 2009
Geodon Maintenance treatment of bipolar mania November 2009
24 2009 Financial Report