Pharma group is launching 19 drugs over the next 18 months to counteract a sharp fall in sales from pandemic highs
These challenges have made investors question whether the 174-year-old company can plug the revenue gap, even as it launches a record 19 drugs over the next 18 months in search of growth.
Mr Seigerman said Pfizer’s expectations that Covid sales will rebound in 2024 – after US government stockpiles are exhausted and the market moves to a commercial footing allowing it to raise prices – may also be unrealistic. “Investors haven’t really spent a lot of time understanding the breadth of our pipeline and our capabilities in research and development ... now we’re beginning to showcase that over the next 18 months.”In the past, the group has relied on mega mergers such as its $68 billion purchase of Wyeth in 2009 to drive growth. But the White House’s tough approach on antitrust makes large deals much riskier.
He said Pfizer had made great progress in oncology over the past decade, building what was a pipeline of only two or three molecules into one of the largest therapeutic areas in the group. A new combination therapy targeting an aggressive form of prostate cancer is another drug with big potential and could be approved this year, said Boshoff.
He singles out two of Pfizer’s best prospects – the drug targeting RSV and an oral treatment for diabetes and obesity. The company forecasts the second of these could generate $10 billion a year in sales. “That [manufacturing] expertise will be important, especially with diabetes, which is more of a primary care market,” said Chen, adding that rivals Lilly and Novo Nordisk have experienced supply issues because of surging demand.
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