Pfizer: Time To Face The Lyrica Pain
Pfizer forecast flat US drug prices in 2019 and downplayed large M&A as a way to assuage near-term growth concerns, while investors brace for a challenging period cycling through the loss of Lyrica.
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The drug outperformed investor expectations, generating $79m in the US in its first full quarter on the market, after Pfizer had set low expectations for the initial launch.
Amgen and Allergan’s launch of the first biosimilars to Roche/Genentech’s Avastin and Herceptin may not face the same commercial dynamics that have stymied biosimilars in other therapeutic areas, but uptake could depend upon oncologists’ comfort level in prescribing the follow-on agents.
Pfizer will be active in business development, management said, but with a focus on building out the pipeline with bolt-on deals in the range of a "few billion." Gene therapy remains one area of interest.