Pfizer Inc. (PFE)'s Two New Top Pills Selling Slower Than Expected
6/14/2013 7:28:44 AM
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Pfizer Inc. (PFE)’s touted two new drugs aren’t selling as fast as the company anticipated, a top executive said today, though the drugmaker expects the pills should still become blockbusters. Eliquis, a blood thinner, and Xeljanz, a rheumatoid arthritis medicine, were approved late last year and projected to be the backbone of new sales growth at the world’s biggest drugmaker. The pills are competing against well-entrenched products, though, and Pfizer hasn’t been able to gain as much of the market in the first months of sales as it had hoped. “The trajectory isn’t what we would have liked it to have been,” Geno Germano, who heads New York-based Pfizer’s specialty drugs and oncology businesses, said of Xeljanz. With Eliquis, he said, two competing pills have made early sales harder. “I think some of the low-hanging fruit has been taken by the entries that came before Eliquis,” he said.
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