Big pharma: 2005 results round-up
Full-year results for 2005 brought mixed tidings for several 'big pharma' companies.
Roche (Basel, Switzerland) reported record sales of CHF35.5bn (US$27.1bn); 20% up on 2004's CHF29.5bn ($22.6bn). Sales grew 26% in its pharma division to CHF27.3bn ($20.9bn), driven by a 42% rise in sales of anticancer drugs and CHF1.6bn ($1.2bn) sales of Tamiflu. Its operating profit rose 33% to CHF9.0bn ($6.9bn).
GlaxoSmithKline (London, UK) saw its operating profit rise by 16% to £6.8bn ($11.9bn). Turnover totalled £21.7bn ($37.8bn), 7% up on 2004's £20.0bn ($34.9bn); GSK Pharmaceuticals accounted for £18.7bn ($32.6bn) of this. Its strongest pharma performer was asthma treatment Seretide/Advair, which earned £3.0bn ($5.2bn), an increase of 22% on 2004.
Although Pfizer's (New York, US) full-year revenue fell slightly to $51.3bn and its net income was down to $8.1bn from $11.4bn in 2004, its figures were ahead of expectations. Sales of Lipitor were up 12% to $12.2bn, but the company was hit to the tune of $5.7bn by sales of generic versions of Neurontin and Accupril.
Novartis (Basel, Switzerland) sales rose 14% to $32.3bn following 'dynamic expansion' of Novartis Pharmaceuticals, which increased sales by 10% to $23.3bn (63% of group sales); sales by Sandoz, the company's generic arm, jumped 54% to $4.7bn. Top-seller was hypertension treatment Diovan, with sales of $3.7bn. Group operating income rose by 10% to $6.9bn.
AstraZeneca's (London, UK) 43% rise in operating profit to $6.5bn and 12% increase in sales to $23.95bn, were marred by the loss of US patent protection on its best-selling (£1.7bn) cardiovascular drug Toprol XL. Meanwhile the $575,000 generated by Exanta will be lost following its withdrawal shortly after the results statement.
Despite worries over reduced emphasis on r&d, Novartis, Roche and GSK increased their spends by 19%, 11% and 8% to $4.8bn, $4.4bn and $3.1bn respectively. Pfizer and AZ reduced their spends by 3% to $7.4bn and $3.4bn respectively.