Here’s Why Pfizer’s New Drugs Mean Billions in New Revenue
Eliquis, a new stroke-prevention drug from Pfizer (NYSE:PFE) and Bristol-Myers (NYSE:BMY) outperformed wayfarin in a study of 18,201 patients, which showed the drug to reduce the risk of stroke with atrial fibrillation by 21%, lower the incidence of bleeding by 31%, and cut the risk of death by 11%. The drug could generate as much as $4.2 billion by 2017, according to analyst Seamus Fernandez, although it faces competition from Xarelto, created by Bayer (PINK:BAYRY) and Johnson & Johnson (NYSE:JNJ) and pending regulatory review in the U.S. next month.
Pfizer’s Crizotinib, which has been proven to shrink tumors in lung-cancer patients with a rare genetic abnormality, has just been approved by the FDA. Crizotinib uses molecular targeting, and patients for the drug will be identified with a test created by Abbott Laboratories (NYSE:ABT). The drug, like Eliquis, is expected to be very lucrative for Pfizer, which has seen its share price climb 3.19% today. Pfizer’s top-selling product Lipitor is due to lose patent protection in November, opening up competition and makings its two new drugs all the more important.