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Pfizer's PFE non-COVID operational revenues improved in 2024, driven by its key in-line products like Vyndaqel, Padcev and Eliquis, new launches and newly acquired products from Seagen. The trend is expected to have continued in the first quarter of 2025.
Drug Sales Estimates: Vyndaqel, Prevnar & Eliquis
Vyndaqel/Vyndamax sales are likely to have been strong, driven by continued demand growth due to increases in diagnosis and treatment rates. However, the unfavorable impact of the IRA and new competition in the United States can hurt Vyndaqel’s growth.
Sales of key vaccine, Prevnar, are likely to have declined due to competitive pressure for the adult indication.
The Zacks Consensus Estimate for sales of Vyndaqel/Vyndamax is $1.42 billion while our model estimates the same to be $1.37 billion.
The Zacks Consensus Estimate for sales of Prevnar family of vaccines is $1.7 billion while our model estimates Prevnar family vaccine sales to be $1.73 billion.
In addition, alliance revenues and direct sales from Eliquis are likely to have provided top-line support, driven by continued share gains in the oral anti-coagulant market and recent launches in international markets. However, sales could be hurt by lower pricing in the United States.
The Zacks Consensus Estimate for alliance revenues from Eliquis is $2.0 billion, while our model estimate is $2.28 billion.
So far this year, Pfizer’s stock has declined 12.7% compared with a decrease of 1.9% for the industry.
Image Source: Zacks Investment Research
Expectations From PFE’s New Drugs & Seagen Products
We expect Pfizer’s several newly launched drugs, like the Velsipity pill for ulcerative colitis, the pentavalent meningococcal vaccine Penbraya, and new gene therapies for hemophilia, Hympavzi (marstacimab), and Beqvez/Durveqtix, to have contributed to top-line growth.
As far as new RSV vaccine, Abrysvo, is concerned, its sales are likely to have benefited from international market expansion. Its sales in the United States are expected to have been hurt by revised recommendations for RSV vaccinations issued in June 2024 by the US Advisory Committee on Immunization Practices.
The Zacks Consensus Estimate for Abrysvo is $158 million, while our model estimate is $183.9 million.
The antibody-drug conjugates or ADCs — Adcetris, Padcev, Tukysa and Tivdak — added to Pfizer’s portfolio with the Seagen acquisition in December 2023, boosted Pfizer’s oncology sales in 2024. Pfizer is particularly witnessing strong demand for Padcev.
Among other acquired products, Nurtec sales are likely to have risen, driven by strong demand in the United States and launches in international markets.